Nifty to open down

Indian equities are likely to open flat with negative bias on Thursday, January 21, 2010. SGX Nifty is trading at 5,196.50 (7.48 am), 18 points lower than Wednesday`s closing of 5,214.5.

In the spot market, the Dollar Index increased 0.011% to 78.37. It touched a high of 78.53 and a low of 78.22 after opening at 78.28. (21:05 ET)

Most Asian stocks was trading mixed on Thursday amid drop in shipping companies, while precision-equipment makers gained.

US stocks slumped on Wednesday amid mixed earnings results from key banks and credit tightening by global economic growth driver China. Among Indian ADRs, Satyam Computer Services (2.11%) were major gainers. MTNL (3.24) On the other hand, ICICI Bank (1.42%), HDFC Bank (1.56%), Wipro (1.77%) were major losers.

European stocks declined for the first time in three days, as mining companies tumbled by the most in almost two months amid speculation China may rein in stimulus measures.

Oil prices tumbled Wednesday, weighed down by a drop on Wall Street, a stronger dollar and signs that China`s energy needs might not be as robust as previously thought.