Markets Trade on a Flat Note

The Global Markets opened in green note. U.S. stocks rose, giving the Standard & Poors 500 Index its biggest rally in two weeks, as investors speculated President Barack Obama plan to inject more than $300 billion into the economy will bolster growth. European stocks rose the most in three weeks, rebounding from a two-year low, after three days of losses dragged the Stoxx Europe 600 Index near to the cheapest since 2008. This morning Asian stocks swung between gains and losses as job losses in Australia and share sales countered speculation the U.S. will do more to stimulate its economy. In commodities, Crude Oil traded near the highest close in five weeks in New York on speculation a storm building in the Gulf of Mexico poses a threat to supplies in the U.S., which have already been reduced by an earlier cyclone. Gold rebounded as a two-day slump attracted investors seeking to guard their wealth against economic uncertainty and financial turmoil. Copper prices steadied on Thursday, supported by a landmark ruling by Germany's top court to allow the country's parliament more say over euro zone bailouts, removing an obstacle to the resolution of the region's debt crisis. The Indian markets began Thursday's trading session on a flat note owing to a fall in the Asian markets. The BSE Sensex is at 17094, up by 30 points and the S&P CNX Nifty is at 5,130, up five points. On Wednesday, the Foreign Institutional Investors were net buyers of Rs 262 crore in cash and the Domestic Institutional Investors were net sellers of Rs 81 crore. Among the sectoral indices, BSE IT and TECk indices are leading the gains, up 2-3 per cent each. The laggards among the indices are BSE Oil & Gas, Metal and FMCG, down 0.1-0.4 per cent each. The overall market breadth is positive as 1,453 stocks have advanced against 672 declining ones.