Market may open sharply lower
Date: 16.01.2012Goldennifty says:
Indian equities are likely to open negative on Monday, January 16, 2012. SGX Nifty is trading at 4,841 (07.29 am), 45 points lower than Friday closing of 4,886.
Asian stocks fell, paring the biggest weekly advance in six, the euro touched an 11-year low versus the yen and U.S. equity futures slid after Standard & Poor`s stripped France of its top credit rating and cut eight other euro-zone nations. Japanese benchmark index Nikkei 225 fell 132.85 points, or 1.56%, to trade at 8,367.17.
Oil prices fell below 99 a barrel Friday in international markets. Benchmark crude fell by 40 cents to end at USD 98.70 a barrel in New York. Brent crude, which is used to price foreign oil that`s imported by U.S. refineries, fell by 70 cents to end at USD 110.35 a barrel in London.
US stocks dropped on Friday, snapping a four-day winning streak, after news reports that Standard & Poor`s would downgrade credit ratings on several euro-zone countries. The Dow Jones industrial average dropped 48.96 points, or 0.39%, to 12,422.06 at the close.
European stocks declined for a third day, after reports that Standard & Poor`s is close to downgrading several euro-area countries. UK`s benchmark index FTSE 100 declined 25.78 points, or 0.46%, to end at 5,636.64.
In the spot market, the Dollar Index increased 0.24% to 81.66. It touched a high of 81.70 and a low of 81.56 after opening at 81.62. (20:57 ET).
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