Markets may open flat

Indian equities are likely to open flat on Wednesday, Oct. 31, 2012. SGX Nifty is trading at 5,626.5 (07.29 a.m.), 1 points lower than Tuesday"s closeof 5,627.5.

Asian stocks rose, trimming a monthly loss, after South Korean industrial output increased and home prices gained in the U.S., where equity markets will reopen today in the wake of Hurricane Sandy. The New Zealand dollar strengthened. Japanese benchmark index Nikkei 225 rose 94.20 points, or 1.07%, to trade at 8,936.18.

The price of oil recovered slightly Tuesday, rising to above USD 86 a barrel, even as a massive storm was pounding the heavily populated U.S. East Coast, reducing demand for fuel by keeping drivers off roads, closing businesses and silencing activity in New York City and other metropolitan areas. By early afternoon in Europe, benchmark oil for December delivery was up 50 cents to USD 86.04 a barrel in electronic trading on the New York Mercantile Exchange. In London, Brent crude, which is used to price international varieties of oil, was down 3 cents a barrel to USD 109.41.

European stocks rose on Tuesday as companies from BP Plc to Deutsche Bank AG reported earnings that topped estimates and U.S. house prices climbed. Hurricane Sandy closed New York markets for a second day. UK's benchmark index FTSE 100 advanced 54.80 points, or 0.95%, to end at 5,849.90.

In the spot market, the Dollar Index decreased 0.01% to 79.92 (21:46 ET).

World commodity prices fell on Tuesday with the decrease in Reuters Jefferies CRB Index by 0.18%.