Markets Trade Flat in Green

The Global Markets trade in a positive territory this morning. U.S. stocks rose, giving the Dow Jones Industrial Average the longest winning streak since July, as retail sales rebounded and as McDonald’s Corp. rallied after reporting higher-than-estimated monthly results. Most European stocks rose as better- than-estimated results from Arcelor Mittal to Swedbank AB and Swatch Group AG outweighed Chinas third increase in interest rates in four months. Asian stocks fluctuated as Toyota Motor Corp. led gains by companies reporting improving earnings, while Chinese developers fell after policy makers took more steps to curb inflation. In commodities, Oil rose in New York, snapping four days of declines, after an industry-funded report showed crude stockpiles dropped for the first time in five weeks in the U.S., the world’s biggest consumer of the commodity. Gold may advance for a third day on speculation that China’s interest-rate increase will fuel concerns about the pace of inflation, propping up demand for the metal as a store of value. Copper fell from a record in New York as higher borrowing costs in China, the world’s biggest user, signaled slower economic growth and metal demand. Markets recovered smartly as oil stocks gained. Heavyeights - Reliance and ICICI Bank led the recovery. Sensex rebounded from a low of 17,593 and was up 40 points at 17,811. Markets had opened in the negative following cues from Asian bourses. Fears that RBI may introduce further tightening to tame inflation dampened sentiments. Nifty was up 11 points at 5,322.