Market may see flat-to-negative opening

Indian equities are likely to open negative on Friday, Jul. 2, 2010. SGX Nifty is trading at 5,249 (7.50 am), 9.50 points lower than Thursday closing of 5,258.5.

Asian stocks fluctuated as U.S. reports on manufacturing, employment and home sales fueled concerns about economic growth and damped an early rally led by mining companies. Japanese benchmark index Nikkei 225 fell 5.79 points, or 0.06%, to trade at 9,185.81.



US stocks began the third quarter with another loss after reports on jobs, housing and manufacturing raised investors` economic worries. The Dow fell 41.49 points, or 0.42%, to 9,732.53.

European stocks dropped to a five- week low after reports that showed manufacturing growth slowed in China and the U.S. and more Americans unexpectedly applied for jobless benefits. UK`s benchmark index FTSE 100 declined 111.12 points, or 2.26%, to end at 4,805.75.

Oil prices fell for a fourth day Thursday after disappointing economic news triggered worries about whether demand would pick up at all during the typically busy summer season. Benchmark crude for August delivery dropped USD 2.68, or 3.5%, to settle at USD 72.95 on the New York Mercantile Exchange.

In the spot market, the Dollar Index dropped 0.139% to 84.60. It touched a high of 84.62 and a low of 84.48 after opening at 84.58. (21:26 ET)

World commodity prices falls on Thursday with the increase in Reuters Jefferies CRB Index by 0.89%.