Markets Trade Flat in Green

The Global Markets gives out positive clues this morning. U.S. stocks rose, sending the Standard & Poor’s 500 Index to a four-month high, after Lennar Corp. beat analysts’ earnings estimates and International Business Machines Corp. announced a $1.7 billion takeover. European stocks rallied, snapping four days of losses for the Stoxx Europe 600 Index, as investors speculated that the economy will avoid another recession. This morning Asian stocks rose, driving the MSCI Asia Pacific Index to the highest level in more than four months, as Taiwanese export orders and U.S. homebuilder Lennar Corp.’s earnings beat estimates. In commodities, Oil fell after a report showed that confidence among U.S. homebuilders in September unexpectedly held at the lowest level in more than a year, adding to concern that a recovery in fuel demand may falter. Gold, little changed, may rise to a record for a fourth straight day driven by speculation that the dollar may weaken amid concern that the U.S. economic recovery could falter. Copper fell from the highest level in almost five months on speculation that an uneven U.S. economic recovery will damp demand for industrial metals. The Indian markets taking cues from its global peers trade in green this morning touching 20K during early trades. The Main gainers this morning are the Capital Goods, IT and Teck indices. Market breadth is negative with 909 advances against 1,720 declines. The Sensex trades in green at 19,988.51 gaining 82.41 points or 0.41 percentage points. Nifty trades at 5993.35 gaining by 4.90 points or 0.08 percentage points.