Markets Trade in Green

The Global Markets emanate positive vibes this morning. U.S. stocks rallied, extending a weekly gain for the Standard & Poor’s 500 Index, as European officials announced 160 billion Euro ($230 billion) in aid for Greece to stop the regions debt crisis from spreading. European stocks advanced, with the benchmark Stoxx Europe 600 Index rising for a third day, as investors speculated that European Union leaders will agree on a plan to extend a bailout for Greece. This morning Asian stocks rose, with the regional benchmark index erasing its loss for the year, as a new aid plan for Greece eased concern Europe’s debt crisis will spread, reducing uncertainty over earnings at financial companies. In commodities, Oil rose in New York, heading for a fourth week of gains, as investors bet fuel demand will increase amid optimism Europe and the U.S. will contain their debt crises. Gold headed for the first weekly drop in three after European leaders agreed on a multibillion- euro rescue package for Greece, curbing contagion concerns, and a record rally prompted sales. Copper headed for the first weekly decline in four on concern a slowdown in Chinese manufacturing may curb demand in the largest user of the metal. The markets continue to move higher in the morning trades with the Nifty gaining 77 points at 5,618.This up move is aided by the gains in heavyweights like Reliance Industries and Bharti Airtel which are up over 1% each. All the sectoral indices have advanced on the NSE. Infrastructure Services, IT and Energy indices up 1-1.5% continues to lead the gains.