Markets Trade Lower This Morning

The Global Markets gives out positive clues this morning. U.S. stocks rallied, sending major equity benchmarks to their biggest gains in two weeks, as speculation grew that Ireland will accept a bailout to rescue indebted banks and reports on manufacturing and jobless claims bolstered optimism about the economy European stocks climbed the most in two weeks amid growing speculation that Ireland will accept a European Union-led bailout to rescue its banks. This morning Asian stocks rose, sending the main regional index to a six-day high, on signs a U.S. economic recovery is accelerating and on speculation a bailout for Ireland will prevent the nation’s banking crisis from spreading. In commodities, Oil rose for a second day in New York because of optimism fuel demand will rebound in the U.S. because of an improved economic outlook and as Ireland moved closer to a European Union-led financial bailout. Gold climbed for a second day as a weaker dollar boosted demand for an alternative investment and commodities advanced after Ireland moved closer to a European Union-led financial bailout. Copper in London dropped as much as 0.4 percent to $8,391.50 a metric ton, reversing an earlier gain of 0.5 percent. Aluminum declined 0.2 percent to $2,304 after climbing 0.3 percent to $2,315. Markets trade lower shrugging of Wall Street gains amid reports that China may hike rates later today. The main draggers are the Realty and Banking indices trading lower this morning declining more than one percentage points. Market breadth is negative with 1,122 advances against 1,379 declines. The Sensex trades in red at 19,829.75 declining 100.89 points or 0.51 percentage points. Nifty trades at 5965.05 declining by 33.75 points or 0.56 percentage points.