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Benchmark share indices are likely to open lower on Monday tracking weak global cues.
At 8AM, the SGX Nifty was down 33 points at 6,070.
Asian stocks were down tracking weak factory output from China. The Nikkei was down 1.4%, Straits Times was down 0.9%. According to a private survey, the Markit/HSBC final China's manufacturing PMI eased to 49.5 from 50.5 in December.
Stocks on Wall Street ended sharply lower on Friday on lower-than-expected earnings from major corporations such as Walmart and Amazon coupled with the sharp depreciation of emerging markets currencies.
The Dow Jones Industrial Average declined 150 points or 0.9% to end at 15,699, the S&P 500 dropped 12 points or 0.7% to close at 1,783 and the tech-laden Nasdaq Composite slipped 19 points or 0.5% to end at 4,104.
Economic data in the euro zone showed that inflation declined to 0.7% in January 2014 compared with 0.8% in the previous month.
Stocks in Europe also declined on Friday on lower-than-expected earnings from select companies in the region.
The FTSE-100 ended down 28 points at 6,510, DAX lost 67 points at 9,306 while CAC-40 ended down 14 points at 4,166.
STOCKS IN FOCUS
Auto stocks will see some action as most of them reported weak sales growth in January.
Tata Power may witness some activity on reports that the company plans to sell 30% stake in Arutmin Indonesia Coal Mines.
JP Power will see some action on talks tha the company plans to acquire hydel assets in Abu Dhabi.
NCC may see some weakness as SembCorp will now acquire 45% stake in the NCC power project
compared with 55% earlier.
Bank of Maharashtra may weaken on weak Q3 earnings and worsening asset quality concerns.
Oberoi Realty may also witness pressure on disappointing Q3 earnings.
Other companies such as Tata Chemicals which will announce their third quarter earnings will be in focus.
