Markets Trade Flat in Green

The Global Markets gives out positive clues this morning. U.S. stocks rose to a five-month high, led by financial shares, after Citigroup Inc.’s earnings topped estimates and an unexpected drop in industrial production added to signs the Federal Reserve will help fuel the recovery. European stocks rose to the highest level since April as Royal Bank of Canada’s offer for BlueBay Asset Management Plc boosted financial-services companies, outweighing losses in BHP Billiton Ltd. and Rio Tinto Group. This morning Asian stocks advanced for the first time in three days after Citigroup Inc. reported profit that exceeded analysts’ estimates, boosting the outlook for corporate earnings. In commodities, Oil dropped from its highest in almost two weeks after factory production in the U.S. unexpectedly declined in September and analysts forecast the nation’s crude stockpiles swelled to the largest since June. Gold, little changed, may increase on speculation the Federal Reserve will take monetary stimulus measures to revive the economy amid low inflation and an unemployment rate near 10 per cent. Copper gained for a second day, advancing towards a 27-month high, as the dollar resumed a decline, increasing the appeal of commodities as alternative investments. The Indian markets trade on a subdued note this morning to trade flat in green. The IT index is the main dragger this morning declining more than one percentage points. Some support is provided by the Healthcare stocks as they trade in green gaining more than one percentage points. Market breadth is negative with 1,024 advances against 1,624 declines. The Sensex trades in green at 20,208.08 gaining 39.19 points or 0.19 percentage points. Nifty trades at 6083.80 gaining by 7.85 points or 0.13 percentage points.