Markets Trade on a Volatile Note This Morning

The Global Markets trade in a mixed territory this morning. Most U.S. stocks rose, sending the Standard & Poor’s 500 Index to an almost 32-month high, as optimism about Egypt’s democratic transition plan and China’s jump in exports overshadowed concern valuations climbed too far. European stocks rose to their highest level since September 2008 as a smaller than estimated contraction in Japan’s economy spurred speculation that the global recovery will continue. This morning Asian stocks rose, leading the regional benchmark index higher for a second day, after Chinas inflation unexpectedly slowed in January. In commodities, U.S. crude stockpiles rose for a fifth week as TransCanada Corp. completed an extension of a pipeline to Cushing, Oklahoma, adding to a glut at the country’s biggest oil-trading hub. Gold, little changed in Asia, may decline on speculation Chinese policy makers will deliver more interest-rate increases to cope with rising inflation. Copper rose to a record in London after imports increased in China, the world’s largest metal consumer. Markets were choppy in morning trades with the Sensex dropping moving between 18,279 and 18,111. Realty and metal stocks dragged. The Sensex opened in the positive zone but dipped almost immediately. The index recovered for a short time and was down 145 points at 18057. Nifty was down 43 points at 5,412. Most of the sectoral indices, barring oil & gas and PSU were in the red. BSE realty index shed 1.3% to 2,112. Metal and IT dropped 0.6% each.