The markets are likely to drift lower today tracking global cues.
US stocks posted the worst day in three weeks on Thursday on mounting evidence that slowing manufacturing growth worldwide threatened corporate profits.
The Dow Jones industrial average slipped 2 per and the Standard & Poor's 500 Index lost 2.2%.
Asian shares fell on Friday and the safe-haven dollar hovered near its highest in a week-and-a-half after weak manufacturing data from the United States, Europe and China heightened fears over the outlook for global growth.
MSCI's broadest index of Asia Pacific shares outside Japan and Tokyo's Nikkei share average slipped 0.8%.
Back home, the Nifty may face resistance around 5,195 – 5,215, while on the downside, it can seek support around 5,135-5,115, analysts say. At 705 Indian Standard Time, the SGX Nifty was trading at 5,114 levels – down 1.2%.
Stocks to watch
Among individual stocks, cement stocks will remain under pressure as competition watchdog has imposed a hefty penalty of about Rs 6,200 crore on 11 leading cement companies for price cartelisation.
Rating agency Moody's has placed Tata Power Company's B-a-3 corporate family rating on review for downgrade. This could see the stock come under pressure in trade today.
Hindustan Zinc could also be in the limelight today on reports that the government is likely to reject an offer by Vedanta Resources to buy the residual stakes in group firms Hindustan Zinc and Bharat Aluminium Company.
Mastek’s US subsidiary has signed a multi-year licence, implementation and maintenance engagement for its STG Billing solution with a Fortune-100 insurance and financial services company.
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