Markets Trade Below 20K Mark

The Global Markets gives out mixed clues this morning. U.S. stocks rose for a second week as Federal Reserve Chairman Ben S. Bernanke said more stimulus may be needed to protect the economic recovery and better-than- estimated earnings boosted investor confidence. European stocks rose for a second week as minutes from last months Federal Reserve meeting showed U.S. officials were prepared to ease monetary policy further. This morning Asian stocks fluctuated after completing a seventh weekly advance last week, as Australian asset managers climbed following a private-equity bid for Perpetual Ltd., countering declines among commodity producers. Gold declined for a second day, after reaching a record last week, as a strengthening dollar eased demand for the metal as an alternative investment. In commodities, Oil declined for a third day in New York amid speculation that builders in the U.S. started fewer homes in September and as the dollar gained against the euro, curbing the appeal of commodities as an alternative investment. Copper dropped for a second day in Shanghai as domestic inventories’ expanded to a six-week high, damping the demand outlook. The market continues its downward movement and has registered an intra-day low of 19,882 and continues to hover around the same.  Most of the sectoral indices trade in red this morning. The main draggers are the FMCG, Realty and Metal indices trading in red declining more than one percentage points. Market breadth is negative with 1,024 advances against 1,624 declines. The Sensex trades in red at 19,908.45 declining 216.60 points or 1.08 percentage points. Nifty trades at 5993.75 declining by 68.90 points or 1.14 percentage points.