Markets Trade on a Volatile Note

The Global Markets trade in a mixed territory this morning. U.S. stocks gained this week, pushing the Dow Jones Industrial Average to its first close above 12,000 since June 2008, as corporate earnings, an expansion of American and Chinese manufacturing and an unexpected decrease in the unemployment rate overshadowed unrest in Egypt. European stocks gained as data showed the jobless rate in the U.S. unexpectedly dropped last month even as payrolls were depressed by winter storms. This morning Asian stocks rose, extending the benchmark equity index’s best week this year, while government bonds fell on speculation U.S. economic data will reaffirm the strength of the global recovery. In commodities, Oil rose for the first time in three days in New York as an unexpected decline in the jobless rate in the U.S. bolstered optimism fuel demand will increase in the world’s biggest crude-consuming nation. Gold may decline in Asia on speculation that the economic recovery is strengthening, curbing demand for the precious metal as an alternative investment. Copper in London and New York may extend their record run as the global economic recovery gathers pace, boosting the demand outlook for the metal used in construction and electrical appliances. The Indian markets witness volatile trade this morning with the Sensex trading with a gain of 29 points at 18,039 and the Nifty trades at 5389 declining 7 points. In the broader markets, the mid caps were up 0.4 per cent and the small caps gained 0.2 per cent as compared to the Sensex, up 0.4 per cent. Among the sectoral charts, Realty started the day on the positive note with a gain of 1 per cent followed by IT, FMCG and Metal. On the other hand, Health Care was the only sector that opened in the negative, down 0.5 per cent.