Moneycontrol BureauIndian benchmark indices are likely to open lower tracking global cues. Asian shares opened in the red on Monday after a sharply lower finish for major US indexes on Friday amid concerns central banks will become less accomodative.The Dow Jones industrial average closed nearly 400 points lower on Friday, with 3M and Boeing contributing the most losses. The index also posted its biggest single day fall since June 24 and its worst week since January.
Down Under, ASX 200 was down 2 percent, weighed heavily by the energy sector, which was down 3.31 percent, the materials subindex, which shed 2.98 percent, and the financials sector, which was lower by 1.95 percent.
The Japanese benchmark index Nikkei 225 shed 1.4 percent; South Korea's Kospi fell 1.62 percent in Asian trade.Last Friday European stocks closed sharply lower after Wall Street stock indexes dropped and data showed Germany's exports fell in July.
The UK's FTSE 100, French CAC index and German DAX all closed down by around 1 percent or more on the day.
The pan-European STOXX 600 closed down more than 1.1 percent, with almost all sectors in negative territory. The index finished the week down 1.45 percent.Oil prices extended declines on Monday amid projections that US data is set to show a big rebound in crude inventories to offset an unexpected slump due to the impact of a tropical storm.
London Brent crude for November delivery was down 49 cents, or 1.0 percent, at USD 47.52 a barrel by 2246 GMT on Sunday after settling down 4 percent on Friday.
NYMEX crude for October delivery was down 60 cents, or 1.3 percent, at USD 45.28 a barrel, after closing down 3.7 percent on Friday.
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