Markets Trade In Green

The Global Markets gives out positive clues this morning. U.S. stocks climbed, sending the Standard & Poor’s 500 Index to the highest level since May, after American service industries expanded more than forecast and speculation grew that the Federal Reserve will join Japan’s efforts to stoke economic growth. European stocks rose, snapping six days of losses, as Moody’s Investor Service said it’s impressed with Greece’s efforts to reform its finances and U.S. service industries expanded more than forecast. This morning Asian stocks rose, driving the MSCI Asia Pacific Index to a two-year high, on speculation more central banks will act to spur growth after the Bank of Japan cut its benchmark interest rate yesterday. In commodities, Oil traded little changed near a five-month high after U.S. service companies expanded faster than forecast and an industry report showed gasoline inventories declined the most since May 2009. Gold jumped to a record for a second day as the dollar declined, boosting demand for precious metals as alternative assets. Silver advanced to a 30-year high and platinum climbed to the highest price in more than four months. Copper climbed for a second day to the highest level in almost 27 months as the dollar weakened on speculation the Federal Reserve may join Japan’s central bank in taking quantitative easing measures to stimulate growth. The Indian markets witness range bound trade this morning. All the sectoral indices trade in green this morning. The main gainers are the Consumer Durables, Metal and Realty indices trading in green this morning gaining more than one percentage points. Market breadth is positive with 1,992 advances against 752 declines. The Sensex trades in green at 20,576.02 gaining 168.31 points or 0.82 percentage points. Nifty trades at 6197.15 gaining by 51.35 points or 0.84 percentage points.