Market likely to open flat; August IIP data eyed

Indian equities are likely to open flat on Friday, Oct. 12, 2012. SGX Nifty is trading at 5,759 (07.28 a.m.), 10.5 points higher than Thursday"s closeof 5,748.5.

Asian stocks rose after U.S. jobless claims fell, boosting the earnings outlook for the region"s exporters. Japanese benchmark index Nikkei 225 rose 17.06 points, or 0.20%, to trade at 8,563.84.

Oil prices rose Thursday as tension between Turkey and Syria raised concerns that crude oil supplies from the Middle East could be disrupted. Benchmark oil gained 82 cents to close at USD 92.07 a barrel. It has risen 2.4% so far this week. Brent crude, which is used to price international varieties of oil, rose USD 1.50 to USD 114.68 on the ICE Futures Exchange in London.

US stocks closed little changed on Thursday after a solid rally sparked by surprisingly good data on weekly jobless claims fizzled out, in part due to questions over the figures. The Dow Jones Industrial Average was down 18.58 points, or 0.14%, at 13,326.39.

European stocks advanced on Thursday as U.S. jobless claims fell to a four- year low and Burberry Group Plc (BRBY) led luxury-goods makers higher. UK"s benchmark index FTSE 100 advanced 53.04 points, or 0.92%, to end at 5,829.75.

In the spot market, the Dollar Index decreased 0.06% to 79.73 (21:43 ET).

World commodity prices gained on Thursday with the increase in Reuters Jefferies CRB Index by 0.60%.