Markets Trade in Green

The Global Markets opened mixed this morning. U.S. stocks advanced, extending the biggest December rally since 1991 for the Standard & Poor’s 500 Index, as commodity producers gained on higher prices for energy and metals amid signs of growing global demand. European stocks rebounded from the biggest decline in a month, while trading volumes stayed close to the lowest levels of the year. This morning most Asian stocks rose, keeping the MSCI Asia Pacific Index near 2 1/2-year high, as oil and gold companies gained after prices of the commodities climbed. In commodities, Oil traded near a 26-month high after a report showed U.S. retailers had their best holiday sales in five years and U.S. crude supplies were forecast to extend their biggest monthly decline since December 2006. Gold declined for the first time in four days as some investors sold the metal before the end of the year to take advantage of its rally to a two-week high. Copper jumped to a record on the London Metal Exchange, catching up with gains in other metals markets as trading resumed today after a two-day holiday. The benchmark indices have held on to their early gains, thanks to the strength on the heavyweight metal and banking counters. The BSE Sensex has consolidated its place above the 20k mark and is now quoting at 20,100, stronger by 75 points and the Nifty has reclaimed the 6k level at 6018, up 22 points.