Markets Witness Subdued Trade This Morning

The Global Markets gives out mixed cues this morning. U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a 10-week high, as weaker- than-estimated data on home sales, factory orders and consumer spending cast doubt on the economic recovery. European stocks were little changed, with the Stoxx Europe 600 Index closing near three-month high, as better-than-estimated results at Bayerische Motoren Werke AG offset concern about the strength of the U.S. recovery. This morning Asian stocks fell for the first time in three days as weaker-than-estimated U.S. home sales, factory orders and consumer spending prompted concern about the strength of the global economy. In commodities, Crude oil rose above $82 a barrel as the dollar declined against the euro and on speculation that U.S. inventories fell for the first time in three weeks. Gold climbed for a sixth day, the longest run of gains in two months, on optimism that Chinas decision to relax rules on trading the metal will help increase investor demand. Copper declined for a second day in Asia, extending the biggest drop in two weeks, after weaker- than-projected U.S. economic data signalled slower industrial metals demand. Zinc and lead also fell. The Indian markets witness subdued session this morning as they dragged into the negative territory after starting off in green. IT index is the main gainer this morning with a gain of more than two percentage points followed by the Teck and Capital Goods indices gaining more than one percentage points. The Sensex trades in red at 18,101.95 declining by 12.88 points or 0.07 percentage points. Nifty trades at 5431.35 declining by 7.05 points or 0.13 percentage points. Market breadth is positive with 1287 advances against 1104 declines.