Markets Trade on a Flat Note

The Global Markets trade in a positive territory this morning. U.S. stocks rose, sending the Standard & Poor’s 500 Index to a 32-month high, as improving corporate earnings and manufacturing data overshadowed higher than- forecast growth in consumer prices. European stocks climbed for a fifth day, extending a 2 1/2-year high for the Stoxx Europe 600 Index, as earnings from Cap Gemini SA and PPR SA topped estimates and the index of U.S. leading indicators rose for a seventh month. This morning Asian stocks rose for the fourth day this week, driving the regional benchmark index toward its best week since Dec. 3, as Taiwan announced faster-than estimated economic growth and companies announced earnings or forecasts. In commodities, Oil traded near a five-day high, heading for its biggest weekly gain in five, as tensions mounted in the Middle East and reports showed the economic recovery in the U.S., the world’s biggest crude user, is gaining momentum. Gold is set for its biggest weekly advance this year as unrest in the Middle East, rising inflation and a weakening dollar combined to fuel demand for the metal as an alternative investment. Silver rose to a 30-year high. Copper may fall as lower prices encourage consumers to delay purchases and await further declines, a survey showed. Indian markets surged to three-week highs, tracking Asian bourses. The Sensex opened at 18,564 and surged to a high of 18,591. The index started dropping thereafter and was up 61 points at 18,568. BSE sectoral indices were in green, led by Bankex and FMCG stocks. BSE Bankex jumped 1% to 12,786. Indusind Bank jumped 2.5% to Rs 235. HDFC Bank, Punjab National Bank, Kotak Mahindra Bank and Axis Bank were up 1-2% each.