Markets may open flat
03rd September 2012 09:18 AM
Indian equities are likely to open flat on Monday, Sept. 03, 2012. SGX Nifty is trading at 5,290 (07.18 a.m.), 3 points higher than Friday"s closeof 5,287.
Asian stocks fell as economic reports from New Zealand to South Korea, Japan and China stoked concern that the region"s economy is slowing. Japanese benchmark index Nikkei 225 fell 36.20 points, or 0.41%, to trade at 8,803.71.
Oil prices rose above USD 96 a barrel Friday in international markets. U.S benchmark crude rose USD 1.85 to end at USD 96.47 a barrel after Federal Reserve Chairman Ben Bernanke made clear in a speech that the central bank will do more to revive the U.S. economy. rent Crude, which is used to price oil used by many U.S. refiners, rose USD 1.92 to USD 114.57 a barrel.
US stocks rose on Friday after Federal Reserve Chairman Ben Bernanke, expressing "grave concern" for the stagnating U.S. job market, said the central bank was prepared to take further steps to strengthen the economy if necessary. The Dow Jones industrial average was up 90.13 points, or 0.69%, at 13,090.84.
European stocks rose on Friday as Federal Reserve Chairman Ben S. Bernanke said he would not rule out further bond purchases to boost growth and reduce unemployment, which he called a "grave concern". UK"s benchmark index FTSE 100 declined 7.97 points, or 0.14%, to end at 5,711.48.
In the spot market, the Dollar Index increased 0.10% to 81.29 (21:38 ET).
World commodity prices gained on Friday with the increase in Reuters Jefferies CRB Index by 1%.
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