Markets Trade on Positive Note This Morning

The Global Markets gives out negative clues this morning. U.S. markets closed on account of Independence day. European stocks declined for a fifth day, the longest losing streak in a year, as a report showed growth slowed in the regions services and manufacturing industries. This morning Asian stocks fell, dragging the MSCI Asia Pacific Index to the lowest level in almost a month, as slowing growth in European services and manufacturing added to signs the global economic recovery is faltering. In commodities, Crude oil dropped for a sixth day in New York on concern that the pace of economic recovery is slowing in Europe and China, stalling a rebound in fuel demand. Gold weakened for a second day as the dollar climbed, cutting the metals appeal as a store of value. The world’s biggest copper producers are warning of looming supply limits at the same time that growing concerns about the global economy leave investors with the largest losses in nine years. The Indian markets taking cues from its global peers started off on a negative note but returned to the positive territory as the day progressed. All the sectoral and broader indices trade in green this morning. IT and Metal indices were the main gainers this morning providing support to the markets. Market breadth is positive with 1,736 advances against 657 declines. The Sensex trades in green at 17,532.89 gaining 91.45 points or 0.52 percentage points. Nifty trades at 5265.20 gaining by 29.30 points or 0.56 percentage points.