Markets may open flat
11th October 2012 09:18 AM
Indian equities are likely to open flat on Thursday, Oct. 11, 2012. SGX Nifty is trading at 5,669.5 (07.25 a.m.), 9.5 points higher than Wednesday"s closeof 5,660.
Asian stocks dropped after Japanese machinery orders fell and Standard & Poor"s downgraded Spain"s debt rating. Japanese benchmark index Nikkei 225 fell 30.61 points, or 0.36%, to trade at 8,565.62.
Oil prices fell below USD 92 a barrel Wednesday in international markets. Benchmark crude finished down USD 1.14 to settle at USD 91.25 in New York. The price of oil rose more than 3% Tuesday on concerns about supplies from the Middle East and the North Sea. Brent crude, used to price international varieties of oil, fell 12 cents to USD 114.25 on the ICE Futures Exchange in London.
US stocks fell on Wednesday weighed down by disappointing news from Chevron and Alcoa as earnings season got under way. The Dow Jones industrial average fell 128.56 points, or 0.95%, to end at 13,344.97.
European stocks declined on Wednesday as investors speculated that economic fundamentals don"t justify current stock valuations and Alcoa Inc. (AA) cut its forecast for global aluminum demand. UK"s benchmark index FTSE 100 declined 33.54 points, or 0.58%, to end at 5,776.71.
In the spot market, the Dollar Index increased 0.31% to 80.16 (21:42 ET).
World commodity prices fell on Wednesday with the decrease in Reuters Jefferies CRB Index by 0.68%.
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