Global mkts edgy over Ukraine woes; Nifty to fall further?

The Indian equity market is likely to open flat today with a positive bias as is indicated by the SGX Nifty that was trading at 6240 at 7:40 am. The market snapped its 5-day winning streak on Monday, spooked by the threat of a military intervention in Ukraine's Crimea peninsula.

Wall Street ended Monday sharply lower as political tensions between Russia and Ukraine escalate. US president has warned that US will mull economic & diplomatic sanctions that will isolate Russia if it doesn’t stop its military threat to Crimea.

European markets too closed sharply lower with sentiment being curbed over the tensions in Crimea while Asian was soft in morning trade.

Brent Crude spiked 2 percent as the Ukraine crisis raised concerns about a disruption of Russian natural gas supplies. Nymex too rose to USD 104 dollars. Precious metal gold is holding on to its near 4-month highs.

Back home, Sahara chief Subrata Roy will be produced in the Supreme Court today, after he was arrested for failing to appear before the apex court in a contempt case.

And the Aam Aadmi Party's popularity takes a slight dip in key battleground states but remains strong in Dehi. The BJP-Shiv Sena is set to turn the tables on Congress and NCP in Maharashtra and Arvind Kejriwal is a distant third behind Narendra Modi and Rahul Gandhi in the race for 7 RCR.