Markets Trade on a Positive Note

The Global Markets emanate mixed vibes this morning. U.S. stocks rallied, sending the Standard & Poor’s 500 Index up for a third straight day; as Luxembourg’s Jean-Claude Juncker assured investors that a solution will be found to Greece’s debt crisis. European stocks fell, with the Stoxx Europe 600 Index extending losses into an eighth week, as the regions governments failed to agree on a payment to spare Greece from default. This morning Asian stocks rose for the first day in five as concern eased Greece will default on its debt after Luxembourg’s Jean-Claude Juncker, who leads the group of euro area finance ministers, said a solution to the crisis will be found. In commodities, Oil advanced for a second day in New York as concern eased that Greece will default on its debt and disrupt the regions economy, and before a report that may show U.S. crude stockpiles dropped for a third week. Gold may climb 23 percent to average $1,500 an ounce this year, up from a March prediction of an 8 percent gain, because of concern over global budget deficits and inflationary pressures, an Australian government agency said. Copper in London climbed, rebounding from its drop to a one-week low yesterday, after assurances that a solution will be found to Greece’s debt crisis. Zinc and aluminum also gained. The Indian markets opened in the green for the day as the Sensex staged a comeback after yesterday' fall with a 109 points gain and the Nifty gained 32 points in the opening trades. In the broader markets, the midcap index has started on a strong note up nearly 0.6% as compared to the small cap index gaining 0.4% and the BSE benchmark index opening up 0.5%.The market breadth is positive. Of the total 1249 stocks traded on the BSE, 797 stocks have advanced while 408 declined.