 "Pre-market: Nifty likely to open below 6,200")
Markets are likely to see a disappointing start after yesterdays over 1% cut on the benchmark indices as two sets of data released on Thursday showed a sharp spike in retail inflation and a worse-than-expected contraction in industrial production. As a result, market players expect the central bank to increase the repo rate by at least 25 basis points to eight per cent - exactly the level at the beginning of this year.
At 0830 hrs, the SGX Nifty was down 40 points at 6,213.
The global cues too are negative with Asian markets jittery on Friday as investors fret over the outlook for U.S. policy stimulus, though Japanese stocks drew some comfort from a reversal in the yen which slid to a seven-month trough on the dollar.
Other share markets in Asia took their lead from a soft finish on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.2 percent in early trade, while Korea's KOSPI dipped 0.5 percent.
Stocks fell on Thursday as retail sales rose solidly in November, adding to signs the economy is strong enough for the Federal Reserve to begin reducing the pace of monetary stimulus.
Profit-taking also played a part in the market's decline, with investors selling some stocks to lock in gains from this year's rally. The S&P 500 is set to close its strongest yearly performance in more than a decade.
The Dow Jones industrial average fell 0.66 percent, to end at 15,739.. The S&P 500 lost 0.38 percent, to finish at 1,775. The Nasdaq Composite dropped 0.14 percent, to close at 3,998.
Stocks to Watch
Watch out for the rate sensitives which are likely to see some sell offs in today's trade.
Coal India will be under pressure as the company is likely to fall short of its production target by 7 million tonnes (MT) this year. The government-controlled coal miner will produce 475 MT this year, about 4% higher than the 457 MT produced last year.
GMR Infrastructure may open a tad higher as the infra company has won a bid along with a partner in Philippines to expand an international airport in that country.
Utility vehicle market leader Mahindra and Mahindra may is likely to react on news that there will be a price rise of its passenger and commercial vehicles by up to 2 per cent with effect from January 1, 2014.
At 0830 hrs, the SGX Nifty was down 40 points at 6,213.
The global cues too are negative with Asian markets jittery on Friday as investors fret over the outlook for U.S. policy stimulus, though Japanese stocks drew some comfort from a reversal in the yen which slid to a seven-month trough on the dollar.
Also Read
Any drop in the yen tends to be viewed as a positive for Japanese exports and corporate profits, and thus for the stock market. The Nikkei responded by edging up 0.3 percent, following three straight sessions of losses.
Other share markets in Asia took their lead from a soft finish on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.2 percent in early trade, while Korea's KOSPI dipped 0.5 percent.
Stocks fell on Thursday as retail sales rose solidly in November, adding to signs the economy is strong enough for the Federal Reserve to begin reducing the pace of monetary stimulus.
Profit-taking also played a part in the market's decline, with investors selling some stocks to lock in gains from this year's rally. The S&P 500 is set to close its strongest yearly performance in more than a decade.
The Dow Jones industrial average fell 0.66 percent, to end at 15,739.. The S&P 500 lost 0.38 percent, to finish at 1,775. The Nasdaq Composite dropped 0.14 percent, to close at 3,998.
Stocks to Watch
Watch out for the rate sensitives which are likely to see some sell offs in today's trade.
Coal India will be under pressure as the company is likely to fall short of its production target by 7 million tonnes (MT) this year. The government-controlled coal miner will produce 475 MT this year, about 4% higher than the 457 MT produced last year.
GMR Infrastructure may open a tad higher as the infra company has won a bid along with a partner in Philippines to expand an international airport in that country.
Utility vehicle market leader Mahindra and Mahindra may is likely to react on news that there will be a price rise of its passenger and commercial vehicles by up to 2 per cent with effect from January 1, 2014.