Markets Trade on a Positive Note

The Global Markets trade in a mixed territory this morning. U.S. stocks advanced, erasing the second straight decline for the Standard & Poor’s 500 Index, as the dollar fell and commodities rebounded from an early slump triggered by China’s efforts to curb lending. European stocks fell, sending the benchmark Stoxx Europe 600 Index down for the first time in three days, led by a selloff in metal and oil producers as commodities extended yesterday’s rout. This morning Asian stocks fell for a second day as Japanese companies reported earnings hurt by the nation’s worst earthquake and China bolstered measures to combat inflation. In commodities, Oil dropped from a two-day high in New York amid signs a surge in fuel prices in the last year is slowing growth in economies including the U.S., the worlds biggest crude-consuming nation. Silver futures headed for a second weekly decline, extending last week’s worst drop since at least 1975, as stocks and commodities retreated on concern that rising interest rates will weaken demand. Copper may fall on concern demand will weaken as China, the worlds biggest consumer of the metal, takes further steps to tackle inflation, a survey showed. The Indian markets after starting on a flat note surged ahead as the day progressed. The main contributors to the gain were the FMCG, Metal and Banking indices which are trading higher by more than one percentage points. At present the Sensex trades 200 points higher at 18536 and the Nifty gained 62 points to trade at 5548.