Markets may see flat-to-positive opening
27th February 2013 09:18 AM
Indian equities are likely to open flat on Wednesday, Feb. 27, 2013. SGX Nifty is trading at 5,770 (07.41 am), 7.5 points higher than Tuesday's closeof 5,762.5.
Asian stocks swung from gains to losses after U.S. housing and consumer confidence data beat estimates, while investors await the sale of long-term Italian debt today as borrowing costs surged following the nation's deadlocked election. Japanese benchmark index Nikkei 225 fell 86.49 points, or 0.76%, to trade at 11,312.79.
Oil prices fell below USD 92 a barrel Tuesday in international markets. Benchmark crude for April delivery finished down 48 cents at USD 92.63 a barrel on the New York Mercantile Exchange. The price dropped below USD 92 earlier in the session. Brent crude, used to price many kinds of oil imported by U.S. refineries, fell USD 1.73 to end at USD 112.71 on the ICE Futures exchange in London.
US stocks rose Tuesday, recouping much of the prior day's slide, as evidence of a solid finish for housing in 2012 and after Ben Bernanke defended the Fed's monetary policy. The Dow Jones Industrial Average rose 115.96 points, or 0.84%, to 13,900.13.
European stocks declined on Tuesday as Italy's inconclusive parliamentary election renewed concern that the Mediterranean nation will dilute its austerity program and the region's sovereign-debt crisis will deepen. UK's benchmark index FTSE 100 declined 84.93 points, or 1.34%, to end at 6,270.44.
In the spot market, the Dollar Index increased 0.02% to 81.88 (21:02 ET).
World commodity prices fell on Tuesday with the decrease in Reuters Jefferies CRB Index by 0.20%.
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