Markets Trade on a Positive Note

The Global Markets gives out mixed cues this morning. U.S. stocks slipped, pulling the Standard & Poor’s 500 Index down from an almost three-month high, as an unexpected increase in jobless claims fueled concern the economic recovery is slowing. European stocks declined as an unexpected increase in U.S. jobless claims offset better-than- estimated earnings from Nokian Renkaat Oyj and Aviva Plc. This morning Asian stocks fluctuated as gains by real-estate companies countered declines by consumer stocks, after U.S. jobless claims unexpectedly rose. In commodities, Oil traded near the lowest in three days after an unexpected increase in U.S. jobless claims, raising concern a slowing economic recovery will limit demand for fuels. Gold is poised for its first weekly advance in almost two months as the dollar declined for the ninth straight week against major currencies and investors priced in Chinas move to relax rules on trading the metal. Copper in London and Shanghai declined for a second day on concern that demand from China and the U.S., the worlds two largest consumers, may weaken. The Indian markets after starting on a subdued note gained momentum as the day progressed and trade on a positive note. Auto and Consumer Durables are the main gainers this morning to trade in green gaining more than half percentage points. Oil & Gas and IT indices trade in red this morning and are the main draggers this morning. Market breadth is positive with 1,727 advances against 929 declines. The Sensex trades in green at 18,196.45 gaining 23.62 points or 0.13 percentage points. Nifty trades at 5459.10 gaining by 12 points or 0.22 percentage points.