Weak global cues and the economic growth concerns amid a weakening rupee on the domestic front are likely to cast a shadow on how markets open in trade today.
US stocks fell modestly on Thursday to close out the worst month since September. The broad S&P 500 index slipped 6.3% in May, its largest percentage drop since September. The Dow's 6.2 percent drop and Nasdaq's 7.2 percent loss are their largest monthly declines in two years.
Asian stocks fell on Friday after reports on China’s manufacturing activity and the US labour market missed estimates. The MSCI Asia Pacific Index and Japan’s Nikkei 225 Stock Average lost 1.1% each.
Back home, the Nifty may seek support around 4,900-4,885, while it can face resistance around 4,950-4,965, analysts say. At 705 Indian Standard Time, the SGX Nifty was trading at 4,887 – down 0.7%.
Among individual stocks, keep a tab on Bharati Shipyard as its final debt recast offer will be discussed today.
Kingfisher Airlines could again be in focus today as the airline said its net loss more than trebled in the fourth quarter from a year earlier.
Riddhi Siddhi Gluco Boils reported that it has sold its starch business to French firm Roquette Freres for Rs 985 crore.
Tribhovandas Bhimji Zaveri, United Breweries and Vivimed Labs will react to their respective March quarter results announced Thursday.
Stocks of aviation sector companies and the oil marketing companies will also come into focus today on reports that the state-owned oil companies on Thursday cut jet fuel price by two%.
Also keep a tab on MphasiS as the company will announce its March quarter results today.
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