Market to see flat-to-negative opening

Indian equities are likely to open flat to negative on Tuesday, December 15. SGX Nifty is trading at 5,111.50 (8.57 am), 9 points higher than Monday`s closing of 5,102.5.

Asian mining stocks rose after copper and platinum prices climbed. Japanese shipping companies declined after cargo rates dropped. Japanese benchmark index Nikkei 225 declined 33.12 points, or 0.33%, to trade at 10,072.56. China`s Shanghai Composite decreased 27.62 points, or 0.84% to trade at 3,275.28.

US stocks gained on Monday after Abu Dhabi`s USD 10 billion in aid to help Dubai avoid a default boosted appetite for riskier assets. The Dow Jones industrial average closed up 29.55 points, or 0.28%, at 10,501.05. The Standard & Poor`s 500 Index gained 7.70 points, or 0.70%, at 1,114.11. The Nasdaq Composite Index climbed 21.79 points, or 0.99%, at 2,212.10.

European stocks climbed led by financial shares after Abu Dhabi provided USD10 billion to avert a default by Dubai`s Nakheel PJSC. UK`s benchmark index FTSE 100 gained 53.77 points, or 1.02%, to end at 5,315.34.

Oil prices fell for the ninth straight day Monday, dipping below USD 70 per barrel on persistent concerns about high inventories and weak demand. Benchmark crude for January delivery fell 36 cents to settle at USD 69.51 on the New York Mercantile Exchange after falling as low as USD 68.59 earlier in the trading sesion.

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