Markets Trade in Green

The Global Markets trade in a green territory. U.S. stocks rallied, giving benchmark indexes their biggest advances in three months, as a decrease in jobless claims and growth in service industries bolstered confidence in the economic recovery. European stocks rose as better-than-estimated earnings from Anheuser-Busch InBev NV to Adecco SA outweighed European Central Bank President Jean- Claude Trichet’s suggestions that the ECB may boost interest rates next month. This morning Asian stocks rose for the fourth day this week after fewer Americans filed unemployment claims and oil prices eased for the first time in three days. In commodities, Oil rose, headed for a third weekly gain in New York, as unrest in Libya renewed concern supply disruptions may spread to the Middle East while signs of U.S. economic recovery stoked speculation fuel demand will increase. Gold is poised for a fifth weekly advance, matching the longest run of gains since October, as turmoil in the Middle East bolstered demand for the metal as an investment haven. Copper declined for the first time in three days on concern that rising energy costs, driven by fighting in Libya and unrest in other states across in the Middle East, may crimp growth. Markets surge in the opening trade led by strong cues from global markets after crude prices eased. The Nifty index was just a tad away from 5600 mark, up 38 points, at 5574 and the Sensex advanced 139 points, at 18,645. From the broader markets, midcap and small cap indices were up 1% and 0.9% each. Market breadth was positive, 1128 stocks advanced for 326 stocks which declined.