The markets are likely to start the first day of the August F&O series on a positive note tracking global cues. Traders will also be eyeing the results of banking majors – ICICI Bank and PNB – due later in the day today.
US stocks rallied on a wave of hope inspired by comments from European Central Bank President Mario Draghi on Thursday. The Dow Jones industrial average and the S&P 500 Index gained 1.7 per cent each.
A rub-off effect was visible across Asian markets on Friday. KOSPI moved up 1.5 per cent, with gains led by Samsung's earnings report.
Back home, the Nifty closed on a negative note on Thursday and is now expected to take face around 5,104 and head lower till 5,000 levels in the short-term, technical analysts say. At 715 am Indian Standard Time, the SGX Nifty was trading at 5,135 – up 0.9 per cent.
Among individual stocks, ACC, Ambuja Cements, JSW Ispat and Alstom India are some of the stocks that will react to their respective June quarter numbers announced on Thursday.
HCL Infosystems could also be in focus on reports that has acquired education content provider Edurix, a move that will help strengthen its education and learning business.
In earnings watch, keep a tab on HCC, ICICI Bank, Grasim Industries, Nestle India, Neyveli Lignite, PNB and TVS Motor.
Deutsche Securities Mauritius has picked up 9.15 per cent stake in SKS Microfinance for around Rs 78 crore.