Markets Gain in Early Trade and Consolidate

The Global Markets gives out positive cues this morning. U.S. stocks rose, with the Standard & Poor’s 500 Index gaining the most in two weeks, after companies from United Parcel Service Inc. to AT&T Inc. and Qualcomm Inc. increased profit forecasts. European stocks climbed for a third day as unexpected growth in the regions manufacturing and services industries and rising U.K. retail sales eased concern that the economic recovery may be faltering. This morning Asian stocks rose, driving the MSCI Asia Pacific Index to its third straight weekly advance, as Microsoft Corp. reported better-than-estimated earnings and commodity prices gained. In commodities, Crude oil traded near an 11-week high after rising on optimism fuel demand will increase amid improved prospects for an economic recovery. Gold may gain as physical purchases increase and as investors buy the metal as a means of protecting wealth, a survey found. Copper headed for its best week in five months as the outlook for demand improved following a continued decline in inventories. Futures in Shanghai jumped to an eight-week high. The Indian markets taking cues from its global peers trade on a positive note this morning. The main gainers this morning are the Consumer Durables, IT and Capital goods indices trading in green gaining more than half percentage points. The only index to trade in red this morning is the Healthcare index which trade flat in the negative territory. Market breadth is positive with 1,555 advances against 1,103 declines. The Sensex trades in green at 18,186.95 gaining 73.80 points or 0.41 percentage points. Nifty trades at 5463.15 gaining by 21.20 points or 0.39 percentage points.