Markets Trade in Green

The Global Markets trade in a mixed territory. U.S. stocks fell, erasing the Standard & Poor’s 500 Index’s gain in the final 20 minutes of trading, as Marriott International Inc. led consumer shares lower and concern grew that Japan is failing to contain hazardous materials at its damaged nuclear plant. Most European stocks rose, extending last week’s rally, as U.S. consumer spending topped forecasts and the Federal Reserve signaled the world’s biggest economy may be strong enough to consider ending stimulus. This morning Asian stocks fell, dragging the benchmark regional index lower for a second day, after Goldman Sachs Group Inc. lowered its economic forecast for Japan as the nation struggled to contain a meltdown at a nuclear plant. In commodities, Oil declined for a fourth day in New York after Libyan rebels advanced against Muammar Gaddafi’s troops, raising speculation the conflict may be resolved soon. Gold prices fell for the third straight session as signs the U.S. economy is improving drove U.S. equities higher, eroding demand for the metal as an alternative investment. Copper declined for a fourth day to the lowest level in almost a week on heightened concern about a meltdown at a Japanese nuclear plant after potentially fatal radiation levels were detected nearby.  In the broader markets space, the midcap and small cap indices were up 0.5% each. Market breadth was positive, 1168 stocks advanced for 690 stocks which declined. Markets opened marginally higher shrugging off subdued global cues. Nifty was up 14 points, at 5700 and the Sensex surged 70 points, at 19,012. While the markets have posted marginal gains in the morning session, choppiness may continue on account of derivatives expiry this week coinciding with the financial year end. According to the provisional data, (FIIs) Foreign Institutional Investors were net buyers of Rs 890 crore in the cash markets yesterday, while DIIs (Domestic Institutional Investors) were net sellers to the tune of Rs 287.5 crore. In the broader markets space, the midcap and small cap indices were up 0.5% each. Market breadth was positive, 1168 stocks advanced for 690 stocks which declined.