Markets Trade in Green

The Global Markets trade in a positive territory this morning. U.S. stocks rose, pushing the Dow Jones Industrial Average to its first close above 12,000 since June 2008, after American and Chinese manufacturing expanded and United Parcel Service Inc. beat analysts’ earnings estimates. European stocks climbed by the most in two months after reports showed manufacturing expanded in the U.S. and China, boosting confidence in the strength of the global economic recovery. This morning Asian stocks rose, sending regional benchmark index to a two-week high, after companies reported higher earnings and U.S. manufacturing expanded, boosting confidence in a global economic recovery. In commodities, Oil traded near $91 a barrel in New York after dropping from a two-year high as concern eased that unrest in Egypt may disrupt supplies through the Suez Canal. Gold, trading little changed, may decline as the fastest manufacturing expansion in the U.S. since 1994 added to signs of a recovery, boosting investors’ appetite for stocks and paring demand for precious metals as a safe haven. Copper rose to a record on signs demand will remain robust in China, the world’s biggest consumer of the metal used in cars, homes and appliances. The markets continued to consolidate in morning trades; the Sensex was up 281 points at 18,303, while the Nifty scaled 67 points to touch 5,484. Sustained buying in the Realty and Oil & Gas counters pushed up the benchmark, but the broader indices underperformed. The BSE Mid-cap index gained 0.5 per cent at 6,791, while the Small-cap moved up 0.8 per cent at 8,420.