Markets Trade in Green

The Global Markets trade in a positive territory this morning. U.S. stocks rose for a second week, sending benchmark indexes to 32-month highs, as takeovers, a rebound in retail sales and Egyptian President Hosni Mubarak’s resignation bolstered investors’ optimism. European stocks posted a second weekly gain as companies from Swatch Group AG to Alcatel-Lucent SA reported better-than-expected earnings and after Egypt’s president stepped down. This morning Asian stock markets rose on Monday as the resignation of Egyptian President Hosni Mubarak eased investors’ worries over political instability in the Arab world's biggest nation. In commodities, Oil traded near the lowest in more than 10 weeks after Egyptian President Hosni Mubarak stepped down and handed power to the military, reducing concern that crude shipments from the Middle East will be disrupted. Gold may decline for a second day, extending a retreat from a three-week high, after Egyptian President Hosni Mubarak stepped down after mass protests against his rule, cooling investor interest in bullion as a haven. Copper climbed for a third day in London after Egyptian President Hosni Mubarak resigned, easing concern that political instability will spread and weigh on economic growth. Positive strides marked the morning hours of trade, as the Sensex gained 286 points at 18,015, while the Nifty moved up 90 points at 5,400. The easing of the civil unrest at Egypt, along with the impending Budget, seemed to have sobered the negative market sentiment prevalent for the most part of last week.