Markets Trade on a Flat Note In Early Trades

The Global Markets gives out mixed clues this morning. U.S. stocks fell, sending the Dow Jones Industrial Average to its biggest drop in almost a month, as analyst rating cuts of companies including Microsoft Corp. and Macy’s Inc. triggered caution before the start of the earnings season. European stocks declined for a sixth day, the longest stretch of losses since January 2009, as reports on U.S. home sales and factory orders failed to ease concern about the strength of the world’s largest economy. This morning Asian stocks fell, dragging down the MSCI Asia Pacific Index for the first time in three days, amid speculation Australia’s central bank will raise interest rates today and after analysts cut U.S. investment ratings. In commodities, Oil traded near an eight-week high in New York after equities slipped and orders for U.S. capital goods increased the most since March. Gold, little changed, may decline for a second day as a strengthening dollar saps investor demand for an alternative asset. Silver dropped from a 30-year high. Copper dropped for a second day as the dollar strengthened on speculation that Japan will expand stimulus measures and on concern that the European debt crisis will be extended. The Indian markets trade on a flat note this morning taking mixed cues from its global peers. The main gainers in the early trades are the Consumer Durables and Healthcare indices gaining nearly one percentage points. The main draggers are the FMCG and Realty indices. Market breadth is positive with 1,500 advances against 977 declines. The Sensex trades in green at 20,479.48 gaining 3.75 points or 0.02 percentage points. Nifty trades at 6162.35 gaining by 2.90 points or 0.05 percentage points.