Tracking sombre Asian peers, Indian markets eye a subdued start to the day although promising inflation and industrial production data could help cap losses.
India's industrial production grew 13.6 per cent in June mainly on account of ease in lockdowns and a favourable base. Further, after staying above the 6 per cent mark for two months, the CPI inflation for July cooled off to 3-month low level of 5.59 per cent. A fall in inflation and recovery in IIP will help the RBI to continue with its 'Accommodative 'and easy monetary policy, opined analysts.
Further stock-specific activity will remain high amid the ongoing earnings season, also directing market moves.
Now, on the global market front, Dow and S&P 500 jumped to record closes for a third straight day on Thursday, with mega-cap technology stocks driving the market higher as investors warmed to jobs data showing a steady U.S. economic recovery.
Overall, Dow Jones rose 0.04 per cent, the S&P 500 gained 0.30 per cent and the Nasdaq Composite added 0.35 per cent.
Asian shares wavered Friday as the spread of the delta Covid-19 variant and China’s regulatory curbs restrained sentiment despite another record high close on Wall Street. Japan’s Nikkei was flat, Australia’s S&P/ASX 200 Index added 0.5 per cent, South Korea’s Kospi fell 1.6 per cent and Hang Seng 0.7 per cent.
Amid this backdrop, SGX Nifty was trading 12 points down at 16,368 around 7.40 am.
Now, a look at stock-specific triggers that are likely to sway the market today.
Burger King India, DHFL, Future Consumer, Grasim Industries, Hindustan Aeronautics, ONGC, and SpiceJet are some of the names slated to report their results today, while Easy Trip Planners, Future Retail, and Vodafone Idea are among over a hundred companies scheduled to report their first-quarter results on Saturday.
Analysts' expectations are that most likely SpiceJet will report a net loss for the April-June quarter of FY22. All eyes are now on the airline’s fundraising plans as well as growth in the cargo business during the Covid-hit period.
Tata Steel on Thursday posted a consolidated net profit of Rs 9,768.34 crore for June quarter 2021-22. In the year-ago period, the company incurred a net loss of Rs 4,648.13 crore.
The country's largest two-wheeler maker Hero MotoCorp on Thursday said its consolidated net profit surged over four-folds to Rs 256 crore for the first quarter ended June 30, riding on the back of robust sales during the period.
Eicher Motors on Thursday reported a consolidated profit after tax of Rs 237 crore for the quarter ended June, riding on improved sales. The company had witnessed a loss of Rs 55 crore in the April-June period of 2020-21. The company also said Vinod Dasari, Royal Enfield CEO, is stepping down with effect from August 13. The company has appointed B Govindarajan as executive director to head the Royal Enfield business.
CRISIL reaffirmed its rating on the commercial paper programme of Jubilant Food Works at CRISIL A1+.
 "Market Ahead Podcast, August 13: Top factors that could guide markets today")
