Markets Witness Dull Trade

The Global Markets opened positive this morning. Major US stock indices on Tuesday closed at their highest levels in more than two years as investors looked to 2011 with increased confidence. European stocks rose, with the Stoxx Europe 600 Index recovering from the slide that followed Lehman Brothers Holdings Inc.’s collapse in 2008, as China said it took ‘concrete action’ to help limit the sovereign-debt crisis. This morning most Asian stocks advanced, with the regional index near a 2 1/2-year high, as commodity producers gained after copper climbed to a record, crude oil rose and U.S. retail sales increased last week, adding to signs the economic recovery is on track. In commodities, Crude rose for a fourth day as signs of U.S. economic recovery stoked expectations that fuel demand will increase in the worlds largest oil consumer. Gold prices rose for the third straight session on speculation that Europe’s debt woes will spread, boosting demand for the precious metal as a store of value. Copper declined in London for the first day in four as some investors sold the metal used in pipes and wires on speculation that the pace of gains had been too rapid. New York futures touched an all-time high before dropping. The Indian markets witness dull trade this morning. Some support is provided by indices like Realty and Metal that trades in green this morning to help the Sensex trade flat on a positive note. Market breadth is positive with 1,736 advances against 855 declines. The Sensex trades in green at 20,121.28 gaining 60.96 points or 0.30 percentage points. Nifty trades at 6015.05 gaining by 14.40 points or 0.24 percentage points.