Markets Trade Flat in Green

The Global Markets gives out mixed clues this morning. U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, as mining and energy companies fell after commodity prices erased gains and PepsiCo Inc. led consumer-staples shares lower. European stocks closed little changed as a record drop in U.K. house prices offset an unexpected decrease in initial claims for U.S. jobless benefits. This morning Asian stocks fell, dragging down the MSCI Asia Pacific Index for the first time in six days, as a decline in commodity prices sent material companies lower and concern increased about the outlook for earnings. In commodities, Oil fell for a second day in New York after U.S. equities declined and the dollar strengthened against the euro as applications for U.S. unemployment benefits unexpectedly decreased. Gold declined, paring a fourth weekly advance, as the dollar rebounded, curbing demand for precious metals as a haven investment and store of value. Silver, platinum and palladium also dropped. Copper on the London Metal Exchange rebounded from yesterdays slump as investors in China bought the metal after LME prices advanced during the country’s week- long National Day holiday. The Indian markets trade on a lacklustre note in early trades this morning. Healthcare, Realty and Oil & Gas indices provide some support to the markets to trade flat in green. The main draggers are the Auto, Consumer Durables and IT indices. Market breadth is positive with 1,630 advances against 922 declines. The Sensex trades in green at 20,355.64 gaining 40.32 points or 0.20 percentage points. Nifty trades at 6130.45 gaining by 10.15 points or 0.17 percentage points.