Markets Trade on a Strong Note on Positive Global Cues

The Global markets give out positive cues this morning. U.S. stocks rallied, with major indexes gaining the most in almost six weeks, as banks advanced and retail-sales growth bolstered optimism that consumer spending is weathering a drop in confidence. European stocks rose, posting the first back-to-back gains in more than two weeks, as financial shares rallied amid speculation that stress tests of the regions lenders will be less severe than forecast. This morning Asian stocks rose as a U.S. trade group said the country’s retail sales grew at the fastest pace in four years, easing concern growth in the worlds biggest economy is faltering. In commodities, Oil climbed for a second day in New York after a forecast that U.S. retail sales are growing at the fastest pace in four years and an industry report showed a decline in crude inventories. Gold climbed on speculation that the metals decline to the lowest level in almost six weeks is prompting some investors to increase holdings. Copper advanced for a fifth day in London, driving other industrial metals higher, as equities jumped and dwindling stockpiles signaled steady demand. The Indian markets taking cues from its global peers trade on a positive note this morning. All the sectoral and broader indices trade in green this morning. The main gainers this morning are the Realty, Metal and Consumer Durable indices gaining more than one and half percentage points. Market breadth is positive with 1,947 advances against 488 declines. The Sensex trades in green at 17,722.75 gaining 251.72 points or 1.44 percentage points. Nifty trades at 5316.20 gaining by 75.10 points or 1.43 percentage points.