Markets may open positive
09th October 2012 09:18 AM
Indian equities are likely to open positive on Tuesday, Oct. 09, 2012. SGX Nifty is trading at 5,729 (07.30 a.m.), 35.5 points higher than Monday"s closeof 5,693.5.
Asian stocks swung between gains and losses as exporters dropped after the International Monetary Fund cut its global economic growth forecasts. Mining companies gained as oil and copper futures rebounded. Japanese benchmark index Nikkei 225 fell 54.92 points, or 0.62%, to trade at 8,808.38. Hong Kong"s Hang Seng index advanced by 218.70 points, or 1.05%, to trade at 21,043.26.
Oil prices fell below USD 89 a barrel Monday in international markets. Benchmark crude fell 57 cents to USD 89.30 in afternoon trading in New York. The contract hasn"t closed lower since August 2. In London, Brent crude, which is used to price international varieties of oil, fell 40 cents to USD 111.62.
US stocks slipped in light trading on Monday, pulling back from recent five-year highs ahead of an earnings season expected to be weak. The Dow Jones industrial average fell 26.50 points, or 0.19%, to 13,583.65 at the close.
European stocks dropped on Monday as the World Bank cut its East Asian growth forecast and investors awaited a meeting of euro-area finance ministers for signs on how they will tackle the debt crisis. UK"s benchmark index FTSE 100 declined 29.28 points, or 0.50%, to end at 5,841.74.
In the spot market, the Dollar Index decreased 0.02% to 79.52 (21:49 ET).
World commodity prices fell on Monday with the decrease in Reuters Jefferies CRB Index by 0.47%.
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