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 its highest level since June 2008, as earnings at companies from 3M Co. to United Parcel Service Inc. and Ford Motor Co. topped analysts’ estimates. European stocks climbed for a fourth day as better-than-estimated earnings from UBS AG outweighed a report that China tightened capital targets for its biggest banks. Asian stocks rose, with the regional benchmark index heading for its highest close in almost two months, after a report showed U.S. consumer confidence increased, boosting the outlook for Asian exporters. In commodities, Oil traded near the lowest in almost a week on speculation fuel demand in the world’s biggest crude-consuming nation may falter after U.S. residential real estate prices dropped the most in more than a year. Gold advanced, nearing its all-time high, on concern that currencies including the dollar are set to extend declines, spurring demand for precious metals as a store of value. Silver rebounded. Copper in London declined for a second day as demand trails supply in China, the worlds largest consumer. The Indian markets after opening on positive note this morning trades on a flat note as the day progressed. The gain was mainly seen due to buying interest in the oil & gas stocks. Sensex trades at 19,579 adding 35 points and the Nifty up 3 points to trade at 5,871.Among the Sensex stocks, the top gainers are Maruti Suzuki and ONGC up 1% each followed by Mahindra & Mahindra, DLF, Hero Honda, Hindustan Unilever and Hindalco gaining between 0.5-0.8% The market breadth is very positive. Of the total 1636 sticks traded on the BSE, 1077 stocks have advanced while 498 have declined.