Sunday 4 March 2012

MARKETS MAY OPEN FLAT

Date : 05.03.2012
Markets may open flat

Indian equities are likely to open flat on Monday, Mar. 05, 2012. SGX Nifty is trading at 5,390 (07.32 am), 1 points lower than Friday of 5,391.
Asian stocks fell as material companies dropped on lower metal prices, paring gains from last week that saw the benchmark index post its longest weekly winning streak on record. Japanese benchmark index Nikkei 225 fell 9.30 points, or 0.10%, to trade at 9,767.73. Hong Kong`s Hang Seng index declined by 44.23 points, or 0.21%, to trade at 21,518.03.
Oil prices fell below USD 108 a barrel Friday in international markets. By early afternoon in Europe, benchmark oil for April delivery was down 98 cents to USD 107.86 in electronic trading on the New York Mercantile Exchange. The contract rose USD 1.77 to USD 108.84 a barrel in New York on Thursday. In London, Brent crude was down USD 1.46 to USD 124.74 a barrel on the ICE Futures exchange.
European stock markets ended the week higher Friday in a session that saw choppy trade following Spain`s decision to lift its deficit target, while major banks provided support after a broker upgrade. UK`s benchmark index FTSE 100 declined 20.12 points, or 0.34%, to end at 5,911.13.
US stocks finished slightly lower Friday after meandering in negative territory for most of the day, with the Dow seeing its first weekly loss in three weeks despite closing above 13000 on Tuesday. The Dow Jones Industrial Average lost 2.73 points to finish at 12,977.5. The Standard & Poor`s 500-stock index dropped 4.46 points, or 0.32%, to 1,369.63, and the Nasdaq Composite closed 12.78 points, or 0.43%, lower at 2,976.19.
In the spot market, the Dollar Index decreased 0.01% to 79.39 (20:57 ET).www.goldennifty.com


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