Markets This Morning Trade on a Positive Note

The Global Markets emanate positive vibes this morning. U.S. stocks advanced, with benchmark indexes snapping a three-day decline, as commodity shares rallied on expectations for higher raw material prices. European stocks climbed the most in two weeks as concern eased that the region’s debt crisis will spread after Jean-Claude Juncker said an assessment on new measures for Greece may come as soon as next week. This morning Asia stocks rose, driving the regional benchmark index to its best performance this month, as raw material producers increased after oil and copper prices rallied. In commodities, Oil rose to a two-week high in New York on signs of increased U.S. fuel demand after a government report showed inventories of diesel and heating oil fell in the world’s biggest crude-consuming nation. Gold may rise for a fourth day in five as Europe’s debt crisis increases investor demand for the precious metal to protect wealth. Copper advanced for a third day in London as investors turned positive on the outlook for demand amid potential supply disruptions. Markets opened in the green led by gains in metal shares after Tata Steel reported 72% surge in fourth quarter net profit. The S&P CNX Nifty gained 37 points, at 5,386 and the benchmark Sensex advanced 117 points, at 17,964. BSE metal index was the top gainer, up 1.2%. Besides Tata Steel, Sterlite Industries gained 1.8%, Hindalco was up 1.6% and JSW Steel rallied 1.5%. BSE Consumer Durables was leading the losses, down 0.3%. Bajaj Electricals was down 1.3% and Titan Industries slipped 1.1%. Broader markets were trading marginally higher, up 0.3% and 0.5%. Market breadth was negative, 898 stocks advanced for 531 stocks declined.