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Markets are likely to extend losses on Friday tracking weakness in their Asian peers and overnight sharp losses on Wall Street. Further, selling by foreign funds will also continue to weigh on market sentiment.
At 8:45AM, the early indicator SGX Nifty was down 39 points at 7,949.
Asian markets were trading lower tracking sharp overnight losses on Wall Street. Japanese shares fell on the back of a stronger yen. The benchmark Nikkei was down 1% at 16,213. The Straits Times and Hang Seng were down 0.3% each. Further, the Shanghai Composite was trading flat with a negative.
Benchmark US shares indices ended over 1.5% lower with the broader S&P 500 recording its highest single-day loss in two months after profit taking in Apple which pushed the stock nearly 4% down and sharp gains in the US dollar against major currencies.
The Dow Jones ended down 1.5% at 16,945.80, the S&P 500 closed 1.6% lower at 1,965.99 and the tech-laden Nasdaq dropped 1.9% to end at 4,466.75.
Stocks to watch
Metal, PSU banks shares which had witnessed a sell-off post the SC verdict could see shortcovering at lower levels.
Jaiprakash Group companies which had dropped sharply in the previous session could also rebound from lower levels.
Aurobindo Pharma and Cipla will be in focus after the Medicines Patent Pool announced new sub-licensing agreements to improve access to novel investigational medicine tenofir alafenamide for HIV treatment.
City Union Bank will be in focus after the FII limit has been hiked to 40% from 35% earlier.
Sharda Cropchem could extend gains on institutional interest in the stock.
Adani Enterprises will be in focus on reports that the Australian government has approved the Carmichael Mine rail plan.
