Markets Trade on a Positive Note

The Global Markets gives out mixed clues this morning. Most U.S. stocks fell this week and the Standard & Poors 500 Index completed its second straight monthly gain as investors awaited congressional elections and the Federal Reserves plans for economic stimulus. European stocks had the first weekly decline in four weeks as concern grew that central bank stimulus measures will be insufficient to sustain the economic rebound. This morning Asian stocks rose after China’s manufacturing expanded at the fastest pace in six months, overshadowing speculation the dollar will retreat ahead of policy meetings by the Bank of Japan and U.S. Federal Reserve. In commodities, Oil rose in New York as the dollar declined on speculation the Federal Reserve will announce another round of credit-easing measures to help spur growth. Silver surged to more than $25 an ounce for the first time in three decades as a weaker dollar increased the investment appeal of precious metals. Palladium advanced to a nine-year high, while gold was little changed. Copper advanced from London to Shanghai as investors sought alternatives to a declining dollar and as manufacturing accelerated in China, the world’s largest user of industrial metals. Zinc, aluminium and lead climbed. The Indian markets trade on a positive note this morning. All the sectoral indices trade on a positive note this morning. The main gainer is the Banking index which trade on a positive note gaining more than two and half percentage points followed by the Realty, Consumer Durables and Healthcare indices gaining more than one percentage points. Market breadth is positive with 1,768 advances against 655 declines. The Sensex trades in green at 20,306.99 gaining 274.65 points or 1.37 percentage points. Nifty trades at 6111.10 gaining by 93.40 points or 1.55 percentage points.