Markets Trade in Green

The Global Markets gives out positive clues this morning. U.S. stocks rose this week, sending benchmark indexes to their biggest gains in a month, amid improved economic data and efforts by the European Central Banks to stem the regions debt crisis. European stocks posted the first weekly advance in four as the European Central Bank delayed its withdrawal of emergency liquidity measures and bought government bonds in Portugal, Ireland and Greece. This morning Asia’s benchmark stock index rose after U.S. Federal Reserve Chairman Ben S. Bernanke said the Fed may buy more treasuries to boost growth, and material shares gained on higher commodity prices, overshadowing declines by Japanese exporters. In commodities, Oil traded at the highest in 26 months in New York on speculation that fuel demand will increase amid signs the economic recovery is gathering pace in the U.S., the world’s biggest crude-consuming nation. Gold, little changed, may climb after Federal Reserve Chairman Ben S. Bernanke said the central bank may buy more bonds, boosting demand for precious metals as alternative assets. Silver gained to a 30-year high. Copper climbed for a fifth day, set for its longest rally since July, on concern supplies may lag behind demand as global inventories shrink and on expectation the Federal Reserve may take more steps to boost economic growth. The Indian markets trade on a positive note this morning gaining more than one percentage points in the early trades. The main gainer this morning is the Metal index that trades in green gaining more than three percentage points followed by the Consumer Durables and Realty indices which trade in green gaining more than one and half percentage points. Market breadth is negative with 1,911 advances against 752 declines. The Sensex trades in green at 20,196.53 gaining 229.60 points or 1.15 percentage points. Nifty trades at 6062.40 gaining by 69.60 points or 1.16 percentage points.