Markets Trade on a Flat Note

The Global Markets opened on a mixed note. U.S. stocks fell, amid concern international officials won’t make a decision on Greece’s next aid payment until October. The yield gap between two- and 30- year Treasuries narrowed to the smallest level in a year. European stocks climbed as Greece described its debt talks with the European Union and the International Monetary Fund as productive and investors speculated the Federal Reserve will provide more stimulus. This morning Asian stocks were mixed as investors fearful of a debt implosion in Europe held onto hopes that the Federal Reserve will announce measures to jolt the U.S. economy. In commodities, Oil fell in New York as investors speculated that demand will falter amid increasing U.S. crude stockpiles in the world’s biggest consumer of the commodity. Gold traded below $1,800 an ounce as some investors sold the metal to lock in gains amid speculation the Federal Reserve may announce steps today to shore up the U.S. economy, eroding demand for a haven. Copper fell, extending a slump to the lowest since November, as the International Monetary Fund lowered its forecast for the economy in the U.S., the second biggest consumer of the metal used in wires and pipes. On the Indian front, the markets witnessed lacklustre trades for most part of the morning deals with the BSE Sensex at 17,111, down 12 points and the Nifty at 5,144, down 4 points. So far, the BSE benchmark index has touched a high of 17,191 and a low of 17,057. The broader markets are comparatively firm with the mid-cap and small-cap indices having gained nearly a per cent each. Among the sectoral indices, BSE Capital Goods and Bankex indices are leading the gains, up a per cent each. The overall market breadth is positive as 1,495 stocks have advanced against 882 declining ones on the BSE.