Market likely to open on a negative note

Indian equities are likely to open negative on Monday, Sept. 24, 2012. SGX Nifty is trading at 5,678 (07.31 a.m.), 34.5 points higher than Friday"s closeof 5,712.5.

Asian stocks fell amid concern that talks among European leaders to resolve the region"s debt crisis are deadlocked, curbing the earnings outlook for the region"s exporters. Japanese benchmark index Nikkei 225 fell 72.02 points, or 0.79%, to trade at 9,037.98.

Oil climbed above 93 a barrel Friday in Asia, making a muted rebound from the big loss sustained in the past week as indicators point to a weak global economy. Benchmark crude was up 65 cents at 93.07 a barrel at mid afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. rent crude was up 1.04 at 111.09 a barrel on the ICE futures exchange in London.

US stocks closed flat on Friday even though investors welcomed Spain"s efforts to seek a bailout and cheered Apple"s newest iPhone that went on sale today, driving its shares to a record high. The Dow Jones Industrial Average slipped 17.46 points, or 0.13%, to close at 13,579.47.

European stocks rose on Friday to a one-week high after a report said that policy makers will next week unveil an economic reform program for Spain that will allow the country to seek a bailout. UK"s benchmark index FTSE 100 declined 2.02 points, or 0.03%, to end at 5,852.62.

In the spot market, the Dollar Index increased 0.32% to 79.58 (21:47 ET).

World commodity prices gained on Friday with the increase in Reuters Jefferies CRB Index by 0.67%.