Markets Trade in Green Above 18K Mark

The Global Markets gives out mixed cues this morning. U.S. stocks fell this week, trimming the biggest monthly rally for the Standard & Poor’s 500 Index in a year, after economic reports and earnings forecasts from technology company’s disappointed investors. European stocks declined this week as slower than-forecast U.S. economic growth overshadowed a rally in banks after European Union stress tests eased concern that lenders may need to raise more capital. This morning Asian stocks rose, extending four consecutive weekly gains, as companies from Honda Motor Co. to Hyundai Mobis Co. reported higher earnings or forecasts. In commodities, Crude oil rose for a third day as a weaker dollar outweighed concerns about slower manufacturing growth in China, the world’s biggest energy consumer. Gold, little changed in early Asian trade, may gain on demand from investors seeking to preserve their wealth after China reported the slowest manufacturing growth in 17 months, reviving concern that the recovery may slow. Copper futures in London, Shanghai and New York jumped to the highest level in three months as a rally in equities boosted investor confidence that the global economic recovery is gaining momentum. The Indian markets trade on a positive note this morning to trade above the 18K mark. All the sectoral indices are in the green, with banking hogging the limelight. ICICI Bank occupies the numero uno position in both the banking and BSE-50 index. The other sectoral gainers this morning are the Realty and Consumer Durables indices trading in green gaining more than one percentage points. Market breadth is positive with 1,841 advances against 764 declines. The Sensex trades in green at 18,042.62 gaining 174.33 points or 0.98 percentage points. Nifty trades at 5422.15 gaining by 54.55 points or 1.02 percentage points.