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Domestic cues will take centrestage as the market participants fine-tune their strategy and either rollover or square off their positions on the last day of expiry of the May F-and-O series today.
Investors will also be mindful of the January – March economic growth data (GDP data) due on Friday. Weak global cues will also weigh.
US stocks fell on Wednesday as high-yielding dividend stocks lost some of their lustre after recent gains in US Treasury bond yields.
The Dow Jones industrial average slid 0.69 per cent, while the Standard & Poor’s 500 Index dropped 0.70 per cent.
Asian shares were pressured on Thursday, undermined by an overnight pullback in global equities. MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed, staying barely above Friday’s five-week low of 464.99.
Australian shares fell 0.3 per cent while South Korean shares opened down 0.1 per cent.
At 730am Indian Standard Time, the SGX Nifty was trading flat at 6,088 levels.
Among individual stocks, Bharti Airtel is likely to come under pressure on reports that the company is likely to face a penalty of Rs 650 crore for allegedly violating licence terms.
Apollo Tyres plans to sell its South African business along with a passenger car tyre plant to Sumitomo Rubber Industries in a deal valued around Rs 340 crore.
Also keep a tab on Tata Teleservices, Saint-Gobain Sekurit, Adani Enterprises, Advance Lifestyles, Essar Ports, Essar Shipping, Jet Airways, Novartis India as their offer for sale to comply with Sebi’s public shareholding norms opens today.
Berger Paints, Indian Hotels, Madras Cement, M&M, Tata Power, Unitech, Videocon Industries, IPCA Labratories, Aurobindo Pharma, Financial Tech, Central Bank, DLF, IOC, PFC, Suzlon Energy, Cadila Health and GMR Infra are some of the companies that will announce their respective March quarter numbers today.
