Markets may open higher on global cues
17th September 2012 09:18 AM
Indian equities are likely to open positive on Monday, Sept. 17, 2012. SGX Nifty is trading at 5,657 (07.46 a.m.), 72 points higher than Friday"s closeof 5,585.
Asian stocks rose, pushing a regional equities gauge to a four-month high, as investors speculated stimulus from the Federal Reserve will buoy equity markets and that China may take extra measures to boost growth. Hong Kong"s Hang Seng index advanced by 60.95 points, or 0.30%, to trade at 20,690.73.
Oil rose to USD 100 a barrel in New York for the first time since May as the Federal Reserve pledged further economic stimulus, while unrest in the Middle East and North Africa fanned concern that supplies will be threatened. Crude for October delivery has since retreated to USD 99.52 a barrel, up USD 1.21, in electronic trading on the New York Mercantile Exchange. Brent oil for October settlement advanced USD 1.06 to USD 116.94 a barrel on the London-based ICE Futures Europe exchange.
US stocks rose on Friday to close out the week at nearly five-year highs after the Federal Reserve took bold action to spur the economy, a move that could keep equities buoyed in the coming months. The Dow Jones industrial average ended up 53.51 points, or 0.40%, to 13,593.37.
European stocks advanced on Friday after the Federal Reserve said it will buy mortgage-backed securities to encourage economic growth in the world"s largest economy. UK"s benchmark index FTSE 100 advanced 95.63 points, or 1.64%, to end at 5,915.55.
In the spot market, the Dollar Index decreased 0.13% to 78.74 (22:07 ET).
World commodity prices gained on Friday with the increase in Reuters Jefferies CRB Index by 1.09%.
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