Markets Trade on a Range Bound Note

The Global Markets gives out positive clues this morning. U.S. stocks rose, sending benchmark indexes to a fourth straight weekly gain, as signs of improving demand for capital goods, technology products and consumer items tempered concern the economic rebound is slowing. European stocks advanced this week on optimism that the economic recovery will continue, while central banks said they stand ready to act should growth falter. This morning Asian stocks gained, driving the MSCI Asia Pacific Index to a five-month high, as a bigger-than- estimated increase in U.S. capital-goods orders bolstered optimism exports to the worlds largest economy will rise. In commodities, Oil rose for a fourth day in New York as equities climbed on signs of renewed capital purchases by businesses and consumers, boosting traders’ expectations of increases in fuel demand. Gold, trading little changed, may advance to a record as a declining dollar boosts demand for precious metals as alternative investments. Silver climbed to the highest price in 30 years. Copper dropped for the first time in four days as some investors in China boost arbitrage trading to take advantage of the price gap between Shanghai and London. The Indian markets after making an initial high of 20,267, the markets are trading range bound. All the sectoral indices trade in green this morning. The main gainers are the Metal, Consumer Durables and Oil & Gas indices trading in green gaining more than one percentage points. Market breadth is positive with 1,969 advances against 767 declines. The Sensex trades in green at 20,225.68 gaining 180.50 points or 0.90 percentage points. Nifty trades at 6068.85 gaining by 50.55 points or 0.83 percentage points.