Morning Market SummaryThe Global Markets opened on a negative note. U.S. stocks declined, halting a three-day rally for the Standard & Poor’s 500 Index, amid growing concern that European leaders are divided over how to handle Greece’s debt crisis. European stocks declined, snapping the biggest three-day rally in 16 months, amid concern that holders of Greek bonds will suffer larger losses than previously agreed upon. This morning Asian stocks dropped for the first time in three days amid growing concern that divisions among European leaders will hamper efforts to solve the region’s debt crisis, damping the earnings outlook for exporters. In commodities, Oil declined for a second day in New York, heading for the biggest quarterly drop since 2008, as investors speculated that global economic growth will slow and curb fuel demand amid rising supplies. Gold fell for a second day, paring a 12th quarterly gain, as concern European leaders may not stem the regions debt crisis hurt stocks and commodities, forcing some investors to sell the metal to cover losses elsewhere. Copper tumbled more than 5 percent in New York on concern that stagnating global growth will reduce demand for raw materials. On the Indian front the markets reflected certain amount of weakness in the opening trades following disappointing global cues. The BSE Sensex is at 16,365, down 80 points and the Nifty is at 4,925, down 20 points. The bourses may remain volatile, ahead of the September expiry, as investors roll-over their positions from the September series to the October series. Among the sectoral indices, BSE Consumer Durables, Metal and Auto indices are leading the losses, having shed 1-2 per cent each. The overall market breadth is negative as 901 stocks have declined against 527 advancing ones, on the BSE.