Markets may open higher on global cues

Indian equities are likely to open positive on Wednesday, Mar. 6, 2013. SGX Nifty is trading at 5,817 (07.27 am), 23 points higher than Tuesday's closeof 5,794.

Asian stocks climbed after U.S. shares surged to a record as service-industry growth in the world's largest economy improved and investors bet central banks will continue stimulus measures. Japanese benchmark index Nikkei 225 rose 125.15 points, or 1.07%, to trade at 11,814.13.

Oil prices rose above USD 90 a barrel Tuesday in international markets. New York's main contract, West Texas Intermediate for April delivery, settled at USD 90.82 a barrel, up 70 cents from Monday's closing level. In London trade, Brent North Sea crude for April surged USD 1.52 higher to close at USD 111.61.

US stocks closed higher on Tuesday. The Dow Jones industrial average soared to a record closing high on Tuesday, breaking through levels last seen in 2007 and as investors rushed in to join the party in anticipation of more gains. The Dow Jones industrial average shot up 125.95 points, or 0.89%, to close at 14,253.77.

European stocks rose amid speculation that central banks around the world will continue with measures to support economic recovery. UK's benchmark index FTSE 100 advanced 86.32 points, or 1.36%, to end at 6,431.95.

In the spot market, the Dollar Index decreased 0.16% to 81.95 (20:51 ET).

World commodity prices gained on Tuesday with the increase in Reuters Jefferies CRB Index by 0.30%.