Markets Trade on a Volatile Note This Morning

The Global Markets gives out positive cues this morning. U.S. stocks rose, adding to gains from the biggest weekly rally in a year for the Standard & Poor’s 500 Index, as analyst upgrades of technology companies’ boosted optimism before the start of the earnings season. European stocks advanced for a fifth straight day as BP Plc rallied the most since 2008 after saying it may be able to stop the flow of oil from its leaking Gulf of Mexico well. This morning Asian stocks fluctuated as technology companies rose following brokerage recommendations on U.S. peers. Mining shares declined. In commodities, Crude oil rose for the fourth day in five on optimism fuel demand will increase amid improved prospects for an economic recovery in the U.S., the world’s biggest energy consumer. Gold gained, rebounding from the biggest decline in a week, as prices of less than $1,200 an ounce boosted buying interest. Copper and aluminium gained after Alcoa Inc. reported better-than-estimated earnings and issued an improved forecast for consumption growth, bolstering the outlook for metals demand. This morning Indian markets takes a breather after breaching the psychological levels of 18000 in yesterday’s trade to trade flat in the negative territory this morning. IT and Teck indices receives maximum beating this morning as both the indices trade in red declining more than two percentage points. Oil & Gas and Capital Goods indices provide some support to the markets gaining close to one percentage points. Market breadth is positive with 1,431 advances against 955 declines. The Sensex trades in red at 17,915.17 declining 22.03 points or 0.12 percentage points. Nifty trades at 5375.80 declining by 7.20 points or 0.13 percentage points.