Moneycontrol
Nov 30, 2016 09:12 AM IST | Source: Moneycontrol.com

Indian markets likely to open flat tracking global cues

Indian benchmark indices are likely to open flat tracking global cues. The SGX Nifty, at the time of publishing this story, was up 15 points at 8188.50.


Moneycontrol Bureau

Indian benchmark indices are likely to open flat tracking global cues. The SGX Nifty, at the time of publishing this story, was up 15 points at 8188.50. 

Asia markets were mixed in morning trade on Wednesday, with energy stocks under pressure following overnight declines in oil prices and as traders eyed a meeting between the world's top oil producers in Vienna.


Japan's Nikkei 225 was up 0.19 percent, while in South Korea, the Kospi gained 0.37 percent. Australia's ASX 200 fell 0.23 percent, with miners leading losses on the index as the materials sector fell 2.34 percent, while the energy sector was down 1.45 percent.

US equities closed higher on Tuesday, led by health care and real estate, as investors digested falling oil prices ahead of a key OPEC meeting, as well as economic data.


The Dow Jones industrial average closed about 25 points higher. The S&P 500 gained 0.1 percent, with health care and real estate rising about 0.7 percent. The Nasdaq composite outperformed, closing 0.2 percent higher and hitting a new intraday high of 5,403.86. The three major indexes traded lower earlier in the session.

Gold prices fell on Tuesday due to expectations of rising US interest rates and a higher dollar and improving sentiment for global economic growth, which means investors are likely to favour risk assets such as equities.


Bullion prices came off their lows as the US dollar turned negative against a basket of six major currencies.

Spot gold was down 0.42 percent at USD 1,188.37 an ounce as of 2:40 p.m.




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