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Last Updated : Jul 07, 2016 07:55 AM IST | Source: Moneycontrol.com

Indian bourses may open slightly up tracking Asian, US cues

Asian markets opened modestly higher on Thursday, likely taking cues from a stronger finish in the US, helped by rising oil prices and the release of dovish Fed Reserve minutes.

Moneycontrol Bureau

Indian bourses likely open up tracking positive cues from other Asian and US markets.

The SGX Nifty, at the time of publishing, was up 40 points at 8339.

Asian markets opened modestly higher on Thursday, likely taking cues from a stronger finish in the US, helped by rising oil prices and the release of dovish Fed Reserve minutes.

Australia's ASX 200 was up 0.58 percent, boosted by gains in the energy, materials and the heavily-weighted financials sub-indexes. In Japan, the Nikkei 225 was near flat at 15,374.37, while across the Korean Strait, the Kospi was up by 1 percent.

Major US indexes finished higher. The Dow Jones industrial average closed up 78 points, or 0.44 percent, at 17,918.62, the S&P 500 closed up 11.18 points, or 0.54 percent, at 2,099.73, and the Nasdaq composite was up 36.26 points, or 0.75 percent, at 4,859.16.

US crude settled up 1.78 percent or 83 cents, at USD 47.43 a barrel ahead of inventory data due in the next 24 hours. WTI fell more than 4.5 percent on Tuesday.

The European FTSEurofirst 300 ended 1.6 percent provisionally, with all sectors posting solid losses by close. Looking at individual bourses, the UK's FTSE 100 ended around 1.2 percent down; while France's CAC and Germany's DAX fell even further, off 1.9 and 1.7 percent respectively.

Spot gold, which touched its highest since March 2014 at USD 1,374.91 on Wednesday, was trading up 0.4 percent at USD 1,368.80 an ounce by 0050 GMT.
First Published on Jul 7, 2016 07:54 am
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