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Nifty likely to open flat with positive bias; Asia trades flat

In the US, stocks closed lower in low volume trade as a decline in oil prices weighed.

The Indian Nifty is likely to open in the green with indicator SGX Nifty trading at 7915.50, up 6.50 points. The 50-share index on Wednesday declined 32.70 points to 7896.25 and the 30-share BSE Sensex fell 119.45 points to 25960.03 while the broader markets outperformed.

Asian markets traded flat on Thursday, the final trading session of 2015. The Japanese and South Korean markets remain closed today. On Wednesday, the Nikkei 225 rounded off a 9.3 percent gain for 2015. Stock markets in Australia, Hong Kong, Singapore, and New Zealand will also shut earlier than usual. The ASX 200 index was up 0.08 percent at 5,324 with both energy and materials sectors in the red.

Meanwhile, in the US, stocks closed lower in low volume trade as a decline in oil prices weighed. The Dow Jones industrial average ended down more than 110 points as selling accelerated into the close. In the Europe too equities finished trade lower  as investors fretted over renewed weakness in global commodity markets. The downward momentum in oil markets hit European energy stocks.

In the currency space, the US dollar rallied against commodity currencies such as Russian Ruble. Declining oil prices weighed on the currencies of oil-dependent economies, while short-covering kept the euro afloat.

In commodities, crude prices fell more than 3 percent after government data showed that US crude stockpiles unexpectedly rose in the last week, though not by as much as an earlier industry report indicated.

From precious metals space, gold traded near USD 1060 an ounce on firm dollar and weak oil prices.

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