Markets Trade Near Day's High

The Global Markets gives out mixed clues this morning. U.S. stocks rose for a third week, led by technology companies, amid speculation Microsoft Corp. will sell debt for share buybacks and after Oracle Corp. beat earnings estimates and Cisco Systems Inc. said it will begin paying a dividend. European stocks dropped for the first week in three, with the benchmark Stoxx Europe 600 Index failing to extend a four-month high, dragged lower by utilities and banks. This morning Most Asian stocks fell as an unexpected drop in U.S. consumer confidence dragged down shares in raw-material producers. In commodities, Oil rose for the first time in five days in New York as the dollar dropped and some investors took the view that crude’s decline to near the lowest in almost three weeks made it attractive to buy. Gold advanced to trade near a record as weak U.S. economic data boosted demand for a haven amid concern about the strength of the recovery. Copper climbed for a third day as the dollar weakened, boosting demand for raw materials as alternative investments. After a decent opening, the markets have continued to trade higher and have registered an intra-day high of 19,706 and continue to hover around the same. The main gainer is the FMCG index trading in green gaining more than two percentage points. The other gainers are the Consumer Durables and Teck indices. Market breadth is positive with 1,872 advances against 765 declines. The Sensex trades in green at 19,736.58 gaining 141.83 points or 0.72 percentage points. Nifty trades at 5923.25 gaining by 38.30 points or 0.65 percentage points.