Markets Trade on a Firm Note

The Global Markets gives out mixed clues this morning. Most U.S. stocks fell, a day after benchmark measures climbed to a five-week high, as a lower-than- estimated profit forecast from FedEx Corp. overshadowed gains in technology shares before Apple Inc.s release of the iPad tablet computer in China. European stocks dropped as U.K. retail sales unexpectedly fell and a gauge of manufacturing in the U.S. contracted, adding to evidence that global economic growth is slowing. This morning Asian stocks gained, driving the MSCI Asia Pacific index higher for a third week, as technology shares gained after Research In Motion Ltd. and Oracle Corp. reported better-than-estimated profits, and the yen weakened, boosting Japans exporters. In commodities, Oil traded near a one-week low, headed for a weekly drop, after falling as Enbridge Energy Partners LP prepared to start a pipeline that supplies Canadian crude to refineries in the U.S. Midwest. Gold may drop in Asia as some investors sell the precious metal after the price climbed to a record for the second time this week. Silver was little changed after advancing to the highest price since March 2008. Copper dropped, paring a weekly advance, as some investors sold the metal to lock in gains after it climbed to the highest level in two weeks. Zinc and lead rose. The Indian markets continue to trade on a firm note as some buying interest is witnessed and the Asian cues are also on the positive side. All the sectoral indices trade in green this morning. The main gainers are the Realty, Auto and Metal indices gaining more than one percentage points. Market breadth is positive with 1,956 advances against 761 declines. The Sensex trades in green at 19,588.22 gaining 170.73 points or 0.88 percentage points. Nifty trades at 5881.75 gaining by 53.05 points or 0.91 percentage points.