Markets Trade on a Flat Note

The Global Markets trade in a mixed territory this morning. U.S. stocks rose for the third straight week, sending the Standard & Poor’s 500 Index to its highest level since June 2008, as the Federal Reserve raised its forecast for economic growth and most companies reporting earnings topped estimates. European stocks rose for a third week as better-than-estimated earnings from Barclays Plc to Cap Gemini SA overshadowed concern about accelerating inflation and a worsening political crisis in the Middle East. Japanese stocks fell, dragging down the Nikkei 225 Stock Average for the first time in six days, as political unrest spread in the Middle East. In commodities, Oil for April delivery rose for a fourth day in New York as violence escalated in Libya, renewing concern that crude supplies will be disrupted as turmoil spreads through the Middle East and North Africa. Gold climbed to the highest level in almost seven weeks and silver gained to the most in more than 30 years on speculation unrest in the Middle East and rising inflation will increase investor appetite. Copper dropped in London and New York as China stepped up measures to rein in liquidity and curb asset prices, dimming the demand prospects in the world’s largest metals user. Futures in Shanghai pared gains. Markets continued to trade on a flat note after a choppy session in opening trades. The Sensex trades flat at 18217 gaining 5 points and the Nifty was flat at 5,449. BSE capital goods index jumped 1% to 13,276. Consumer durables and FMCG indices were up around 1% each. Meanwhile, the BSE auto index dropped 1.3% to 8,600, followed by realty and bankex. Auto shares dropped in morning trades on fears of hike in excise duty.