Markets may see flat-to-positive opening
26th December 2012 09:18 AM
Indian equities are likely to open flat on Wednesday, Dec. 26, 2012. SGX Nifty is trading at 5,870 (07.29 am), 9.5 points higher than Monday"s closeof 5,860.5.
Asian stocks rose as the yen dropped before the swearing in of a new, more pro-stimulus government. Japanese benchmark index Nikkei 225 rose 57.78 points, or 0.52%, to trade at 10,132.76.
Oil prices fellbelow USD 89 a barrel Monday during a shortened pre-Christmas trading day. Concerns over the political stalemate in Washington continue to be the focus of traders, with the price of U.S. benchmark oil closing down 5 cents to USD 88.61 a barrel on the New York Mercantile Exchange. Brent crude, used to price international varieties of oil, fell 17 cents to USD 108.80 a barrel.
US stocks dipped during a shortened Christmas Eve session on Monday amid pessimism about prospects for a "fiscal cliff" deal by the end of the year. The Dow Jones Industrial Average was down 51.76 points, or 0.39% at 13,139.08.
European stocks fell on Monday before the Christmas holiday and concern grew U.S. policy makers won't meet a year- end budget deadline. UK's benchmark index FTSE 100 advanced 14.19 points, or 0.24%, to end at 5,954.18.
In the spot market, the Dollar Index increased 0.03% to 79.71 (20:47 ET).
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