 "Weak global cues to weigh on markets")
Markets are likely to open lower tracking weakness in their Asian peers and overnight losses on Wall Street.
At 8:30am, the early indicator SGX Nifty was down 16 points at 7,166.
"The Indian markets are expected to open with a flat to negative note tracking the global cues. On Thursday, US markets ended lower on the back of lower-than-expected earnings and fall in oil prices. Asian markets also pared its gains," Geojit BNP Paribas Financial services said in a note.
GLOBAL MARKETS
Asian stocks were trading lower as investors booked profit after gains in the previous sessions after the recent upmove in global crude oil prices took a breather on the back of rising US oil inventory while global economic growth concerns also weighed on sentiment. Japanese shares witnessed profit taking after recent gains. The benchmark Nikkei was down 2.3% while Shanghai Composite was down 0.1% while Hang Seng eased 0.6% and Straits Times was down 0.4%.
US stocks ended marginally lower on Thursday with energy shares declining the most after crude oil prices came off their recent highs while sluggish corporate earnings also weighed on investor sentiment. Wal-Mart Stores was the top loser in the Dow Jones industrial average down 3% after weak quarterly profit and sluggish sales outlook. The Dow Jone industrial average ended down 0.3% at 16,413, the broader S&P 500 ended down 0.5% at 1,918 and the tech-laden Nasdaq Composite closed 1% lower at 4,488.
STOCKS IN FOCUS
Gayatri Projects may firm up after its arm Thermal Powertech Corporation India secured 8 - year Power Purchase Agreement with Telangana Power Distribution Companies.
Allahabad Bank may weaken after rating agency CRISIL has revised its ratings on Allahabad Bank’s Tier-II bonds on prospects of further deterioration in asset quality and pressure on the lender’s bottom line. It revised its ratings from ‘AA+’ to ‘AA’. CRISIL has assigned ‘A’ rating to the bank’s Rs 1,000-crore Tier-I bond issue.
Jet Airways may gain on reports that Etihad Airways plans to raise its stake to 49% from 24% in the domestic airline.
Airline stocks may see an uptick after most of them reported higher passenger load in January. SpiceJet was the leader with 92.1% followed by GoAir and IndiGo, at 84.9 per cent and 84.7 per cent, respectively.
Quick Heal which listed on Thursday could extend losses. The stock plunged 20% ending at Rs 254 compared to the IPO (Initial Public Offering) price of Rs 321 per share.The sharp price drop was due to disclosure-related allegations against the company and on concerns over higher service-tax liability.
At 8:30am, the early indicator SGX Nifty was down 16 points at 7,166.
"The Indian markets are expected to open with a flat to negative note tracking the global cues. On Thursday, US markets ended lower on the back of lower-than-expected earnings and fall in oil prices. Asian markets also pared its gains," Geojit BNP Paribas Financial services said in a note.
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Foreign institutional investors were net buyers in equities to the tune of Rs 419 crore on Thursday, as per provisional stock exchange data.
GLOBAL MARKETS
Asian stocks were trading lower as investors booked profit after gains in the previous sessions after the recent upmove in global crude oil prices took a breather on the back of rising US oil inventory while global economic growth concerns also weighed on sentiment. Japanese shares witnessed profit taking after recent gains. The benchmark Nikkei was down 2.3% while Shanghai Composite was down 0.1% while Hang Seng eased 0.6% and Straits Times was down 0.4%.
US stocks ended marginally lower on Thursday with energy shares declining the most after crude oil prices came off their recent highs while sluggish corporate earnings also weighed on investor sentiment. Wal-Mart Stores was the top loser in the Dow Jones industrial average down 3% after weak quarterly profit and sluggish sales outlook. The Dow Jone industrial average ended down 0.3% at 16,413, the broader S&P 500 ended down 0.5% at 1,918 and the tech-laden Nasdaq Composite closed 1% lower at 4,488.
STOCKS IN FOCUS
Gayatri Projects may firm up after its arm Thermal Powertech Corporation India secured 8 - year Power Purchase Agreement with Telangana Power Distribution Companies.
Allahabad Bank may weaken after rating agency CRISIL has revised its ratings on Allahabad Bank’s Tier-II bonds on prospects of further deterioration in asset quality and pressure on the lender’s bottom line. It revised its ratings from ‘AA+’ to ‘AA’. CRISIL has assigned ‘A’ rating to the bank’s Rs 1,000-crore Tier-I bond issue.
Jet Airways may gain on reports that Etihad Airways plans to raise its stake to 49% from 24% in the domestic airline.
Airline stocks may see an uptick after most of them reported higher passenger load in January. SpiceJet was the leader with 92.1% followed by GoAir and IndiGo, at 84.9 per cent and 84.7 per cent, respectively.
Quick Heal which listed on Thursday could extend losses. The stock plunged 20% ending at Rs 254 compared to the IPO (Initial Public Offering) price of Rs 321 per share.The sharp price drop was due to disclosure-related allegations against the company and on concerns over higher service-tax liability.