Markets Trade Steady Over 18000

The Global Markets gives out positive cues this morning. U.S. stocks climbed for a sixth day, commodities rallied and Treasuries extended their longest losing streak in 11 months as Alcoa Inc.’s forecast of growing global demand and Greece’s sale of debt bolstered optimism in the economic outlook. European stocks climbed for a sixth day to a three-week high as Alcoa Inc. began the U.S. earnings season with profit that beat estimates, Bayerische Motoren Werke AG raised its forecast and BP Plc gained. This morning Asian stocks rose after the world’s biggest chipmaker reported record second quarter sales and Singapore raised its economic growth forecast for the third time this year, driving optimism the global economy is recovering. In commodities, Crude oil traded near a two-week high in New York on optimism fuel demand will increase amid improved prospects for an economic recovery in the worlds biggest energy consumer after U.S. stocks advanced. Gold, little changed in Asian trade, may decline as signs that the global economic recovery is taking root sap investor demand for the metal as a store of value. Copper declined as concerns about the strength of the global economic recovery persist. The Indian markets taking cues from its global peers trade on a positive note above the psychological level of 18000. All the sectoral and broader indices trade in green this morning. The main gainers this morning are the Banking, Consumer Durables and Realty indices all trade high gaining more than one percentage points this morning. Market breadth is positive with 1,714 advances against 807 declines. The Sensex trades in green at 18,106.60 gaining 120.70 points or 0.67 percentage points. Nifty trades at 5435.80 gaining by 35.15 points or 0.66 percentage points.