Markets Trade At Day's High

The Global Markets gives out negative clues this morning. U.S. stocks fell, sending the Standard & Poor’s 500 Index to its longest drop in a month, as a deteriorating profit outlook for banks and an increase in jobless claims overshadowed a rally in technology shares. Most European stocks fell, dragging the Stoxx Europe 600 Index lower for a third day, as bank shares retreated on rising concern that the regions sovereign debt crisis is harming the economy. This morning Asian stock fell, paring the MSCI Asia Pacific indices fourth straight weekly gain, after an increase in US jobless claims damped the outlook for global economic growth. In commodities, Oil declined in New York after a U.S. government report showed that initial jobless claims rose for the first time in a month, signaling fuel demand in the world’s largest crude consuming nation may falter. Gold traded near a record, heading for a second weekly advance, on haven demand after an increase in U.S. jobless claims and weaker-than-expected data in Europe boosted concerns that the global economic recovery may slow. Copper declined from a five-month high, paring a second weekly advance, as an increase in U.S. jobless claims signaled the recovery in the second-largest user may stall, damping demand. After a listless opening, the markets have moved upward to touch an intra-day high of 19,957. All the sectoral indices trade in green this morning except the IT index which trades in red on a flat note. The main gainers this morning are the FMCG, Realty and Consumer Durables indices. Market breadth is positive with 1,833 advances against 708 declines. The Sensex trades in green at 19,954.43 gaining 93.42 points or 0.47 percentage points. Nifty trades at 5983.10 gaining by 23.55 points or 0.40 percentage points.