Markets may open negative ahead of Railway Budget
26th February 2013 09:18 AM
Indian equities are likely to open negative on Tuesday, Feb. 26, 2013. SGX Nifty is trading at 5,826 (07.58 am), 18.5 points lower than Monday's closeof 5,844.5.
Railway Budget 2013-14 will be presented in the Parliament by the Railway Minister Pawan Kumar Bansaltoday.
Asian stocks fell on concern Italy's elections may reignite Europe's debt crisis. Japanese benchmark index Nikkei 225 fell 189.49 points, or 1.62%, to trade at 11,473.48.
Oil prices rose above USD 94 a barrel Monday in international markets. By early afternoon in Europe, benchmark crude for April delivery was up USD 1.11 to USD 94.24 a barrel in electronic trading on the New York Mercantile Exchange. In London, Brent crude was up USD 1.55 to USD 115.65 on the ICE futures exchange in London.
US stocks fell sharply on Monday as Italian elections and looming spending cuts in the U.S. hit sentiment. The Dow Jones industrial average dropped 216.40 points, or 1.55%, to 13,784.17.
European stocks advanced on Monday as investors scrutinized post-election polls for signs of who will control Italy's government. UK's benchmark index FTSE 100 advanced 19.67 points, or 0.31%, to end at 6,355.37.
In the spot market, the Dollar Index increased 0.15% to 81.79 (21:17 ET).
World commodity prices gained on Monday with the increase in Reuters Jefferies CRB Index by 0.10%.
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