Markets Trade Sideways This Morning

The Global Markets gives out negative cues this morning. U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, after orders for durable goods unexpectedly decreased and the Federal Reserve said economic growth slowed in some areas. European stocks slid, halting a six- day rally for the Stoxx Europe 600 Index, as an unexpected decline in orders for U.S. durable goods overshadowed better than estimated company earnings. This morning Asian stocks fell for the first time in five days after the U.S. Federal Reserve said growth slowed in some areas of the world’s largest economy. In commodities, Crude oil traded near a one-week low in New York on an unexpected increase in U.S. supplies as imports jumped to the highest level in almost four years. Gold may advance for a second day on speculation the metals prices near a three month low will help shore up demand. Copper declined from the highest level in 12 weeks as an unexpected drop in orders for durable goods in the U.S. raised concerns about the strength of economic recovery and the outlook for metals demand. The Indian markets witness lacklustre trade in the early trade this morning as they trade flat in the negative territory. Most of the sectoral indices trade in red with the main draggers being the Capital Goods and Metal indices. Some support is provided by the PSU and Healthcare indices as they trade in green this morning. Market breadth is positive with 1,254 advances against 1,217 declines. The Sensex trades in red at 17,919.40 declining 37.97 points or 0.21 percentage points. Nifty trades at 5384.90 declining by 12.65 points or 0.23 percentage points.