Markets Trade on a Negative Note

The Global Markets gives out mixed clues this morning. U.S. stocks gained, with the Standard & Poor’s 500 Index rising from a 10- month low, amid speculation earnings growth will help equities rebound from their lowest valuations since the bull market began in 2009. European stocks gained the most in five weeks, ending the longest losing streak in a year for the Stoxx Europe 600 Index, on speculation the decline in equities has overrun the outlook for company earnings. This morning Asian stocks fell, dragging the MSCI Asia Pacific Index lower for the first time in three days, as slower-than-estimated expansion by U.S. service industries underscored concern global growth is faltering. In commodities, Oil traded near $72 a barrel in New York after rising on forecasts that crude supplies in the U.S. declined and optimism that fuel demand will increase amid signs of improvement in Europes banking system. Gold advanced after two days of declines on speculation prices less than $1,200 an ounce are enticing some investors back to the metal. Copper prices jumped the most in more than a week as shrinking inventories signaled demand will remain steady even as global economic growth slows. The Indian markets this morning trade on a soft note this morning as they witness selling pressure in almost all the sectoral indices. The Banking, Oil & Gas and Metal indices are the main draggers this morning. Consumer Durables and Realty indices are the only two to trade in green this morning. Market breadth is positive with 1,420 advances against 1,060 declines. The Sensex trades in red at 17,523.52 declining 90.96 points or 0.52 percentage points. Nifty trades at 5258.50 declining by 30.55 points or 0.58 percentage points.