Markets Trade on a Positive Note

The Global Markets trade in a mixed territory. U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for the first time in four days, as oil rose amid unrest in Libya and concern grew that Europe won’t find an immediate solution to its debt crisis. European stocks retreated for the first time in four days as Irish and Greek bonds sank amid concern European Union leaders will struggle to solve the regions debt crisis. This morning Asian stocks fell for the first time in four days as Japanese companies announced production halts and earthquakes struck near the Fukushima nuclear plant that was crippled after a March 11 temblor and tsunami. In commodities, Oil rose to a two-week high in New York amid concern that increased Allied attacks in Libya will prolong supply disruptions and the escalating turmoil in the Middle East may curtail shipments. Gold, little changed in Asia, may decline on speculation that recent gains may prompt some investors to offload holdings, and as the dollar advanced for a second day, curbing its appeal as a haven asset. Copper traded little changed in London and New York, may decline on renewed concerns about Europe’s debt crisis and as a series of earthquakes struck near the damaged Fukushima nuclear plant, raising speculation about lower demand. Futures in Shanghai gained. Indian markets bounced back after a shake start as buying activity emerged across the board. Banks, pharmaceuticals and capital goods stocks led the up move while auto and realty stocks were marginally higher. Sensex was at 18133, up 145 points. The 30-share index touched a high of 18123.50 and low of 17950.17 in early trade. Market breadth was positive on the NSE with 893 advances against 378 declines.