Markets Witness Lacklustre Trade in Early Trades

The Global Markets gives out positive clues this morning. Most U.S. stocks fell, a day after the Standard & Poor’s 500 Index rallied to an almost five-month high, after a report showing an unexpected decrease in private payrolls undermined confidence in the economic recovery. European stocks climbed amid speculation that central banks around the world will follow the Bank of Japan in announcing measures to boost their economies. This morning Asian stocks rose, driving the MSCI Asia Pacific Index to a two-year high, as increased oil and metal prices boosted commodity companies and a report showed Australian companies hired more people than expected. In commodities, Oil traded near a five-month high in New York after the dollar weakened against the euro and a government report showed a drop in U.S. gasoline stockpiles, bolstering optimism in an economic recovery. Gold gained to a record for a third day and silver climbed to a 30-year high on speculation that government spending will weaken the dollar and spur demand for precious metals as alternative assets. Copper climbed for a third day to trade near its highest price in almost 27 months as U.S. employment data added to signs the Federal Reserve may move to expand credit-easing measures to spur growth. The Indian markets witness lacklustre trade this morning oscillating between the positive and the negative territory during early trades. The main gainers this morning are the Consumer Durables, Healthcare and FMCG indices. The main draggers are the IT, Banking and Realty indices. Market breadth is positive with 1,601 advances against 922 declines. The Sensex trades in red at 20,530.22 declining 12.86 points or 0.06 percentage points. Nifty trades at 6182.70 declining by 3.75 points or 0.06 percentage points.