Domestic cues will take centrestage today as the markets react to the June 2012 quarter results of information technology major and index heavyweight, Infosys, in the opening moves.
The index of industrial production (IIP) figures for May 2012 and the quarterly results of TCS, both due later in the day, will determine
the market’s mood as trade progresses.
Overnight, the Dow Jones industrial average lost 0.4 per cent, while the Standard & Poor's 500 Index ended flat.
Asian shares barely budged on Thursday as the US Federal Reserve appeared to put-off taking more aggressive stimulus steps until
economic conditions worsen.
MSCI's broadest index of Asia-Pacific shares outside Japan and Japan's Nikkei average eased 0.1 per cent each. At 705 am Indian Standard Time, the SGX Nifty was trading at 5,300 levels – down 0.4 per cent.
Back home, the Nifty is likely to re-test 5,350 again, technical analysts suggest.
Among individual stocks, the information technology pack, especially Infosys and TCS will react to their June quarter numbers due today.
Also keep a tab on capital goods and metal counters as the traders adjust their position in these stocks post the IIP figures.
JSW Steel has reported 27 per cent growth in production for the June quarter over the same quarter a year ago.
Oil and gas stocks could also be in focus today on reports that diesel prices by at least Rs 5 a litre after the Presidential election.
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