Markets Trade on a Positive Note

The Global Markets gives out positive clues this morning. European stocks declined for the first time in five days as investors awaited the outcome of today’s Federal Reserve meeting to see whether it plans to pump more money into the economy. This morning, Asian stocks rose, propelling a benchmark index to the highest level in more than two years, after the U.S. Federal Reserve expanded measures to boost the world’s largest economy. In commodities, Oil rose for a fourth day to more than $85 a barrel as the dollar traded near a nine-month low against the euro after the Federal Reserve’s move to buy an additional $600 billion of Treasuries to spur the economy. Gold fell the most in two weeks on bets that the Federal Reserve will announce a U.S. stimulus below estimates by economists, boosting the dollar and eroding the appeal of the metal as an alternative investment. Copper in London rebounded after the Federal Reserve said it will purchase more government debt, boosting confidence that growth will be sustained in the world’s largest economy. Prices also climbed in New York and Shanghai. The Indian Markets ahead of the Diwali trades on positive note this morning. All the sectoral indices trade in green this morning. The main gainers are the Metals, Capital Goods and Realty indices that trade in positive note this morning gaining more than one and half percentage points. Market breadth is positive with 1,476 advances against 1,048 declines. The Sensex trades in green at 20,810.75 gaining 345.01 points or 1.69 percentage points. Nifty trades at 6256.35 gaining by 94.60 points or 1.54 percentage points.