Markets Trade on a Strong Note This Morning

The Global Markets gives out mixed cues this morning. U.S. stocks fell this week, with the Standard & Poor’s 500 Index dropping four straight days, after new-home sales sank to a record low and the Federal Reserve said European indebtedness may harm American growth. European stocks posted their first weekly drop in more than a month, after disappointing U.S. housing data and a surge in the cost to protect from a Greek default reignited concern about the global economic recovery. This morning most Asian stocks dropped, led by Japanese banks after Mizuho Financial Group Inc. announced a share sale. Commodity companies advanced. In commodities, Crude oil rose to the highest in seven weeks as the dollar fell against the euro, bolstering demand for commodities, and on concern the Atlantic hurricane season will disrupt production. Gold may advance for a third day, approaching a record, as investment demand continues to rise on concern the sovereign-debt crisis in Europe will be prolonged. Copper in London gained 1 percent to $6,840.25 a metric ton today. Nickel climbed 1.3 percent to $20,000. The Indian markets trade on a strong note this morning. All the sectoral and broader indices trade in green this morning. Oil & Gas, PSU and Consumer Durables indices were the main gainers this morning witnessing good buying interest and gaining more than one percentage points. Market breadth is positive with 1,189 advances against 1,177 declines. The Sensex trades in green at 17,667.57 gaining 93.04 points or 0.53 percentage points. Nifty trades at 5298.10 gaining by 29.05 points or 0.55 percentage points.