Markets may open flat

Indian equities are likely to open flat on Tuesday, Oct. 23, 2012. SGX Nifty is trading at 5,720.5 (07.28 a.m.), 2.5 points lowerr than Monday"s closeof 5,723.

Asian stocks swung between gains and losses amid concern over slowing corporate earnings growth and as Europe struggles to contain its debt crisis. Japanese benchmark index Nikkei 225 rose 4.21 points, or 0.05%, to trade at 9,014.92.

Oil prices fell below USD 89 a barrel Monday in international markets. Benchmark oil fell USD 1.32, or 1.5%, to finish at USD 88.73 in New York. That followed a 2% decline on Friday and is the lowest close since Oct. 3. In London Brent crude fell 70 cents to end at USD 109.44.

US stocks rallied in the last hour of trading to eke out slim gains, as investors weighed corporate earnings reports and shrugged off a reduced profit forecast from industrial bellwether Caterpillar. The Dow Jones Industrial Average rose 2.38 points, or less than 0.02%, to 13,345.89.

European stocks fell on Monday as Japanese exports tumbled and investors speculated that victory in regional elections for Spain's Prime Minister Mariano Rajoy reduces pressure for him to seek a bailout. UK's benchmark index FTSE 100 declined 13.24 points, or 0.22%, to end at 5,882.91.

In the spot market, the Dollar Index decreased 0.09% to 79.58 (21:47 ET).

World commodity prices fell on Monday with the decrease in Reuters Jefferies CRB Index by 0.83%.