Markets are likely to open flat but upside gains are likely to be capped tracking weakness in their Asian peers.
At 8:30AM, the early indicator, SGX Nifty was down 9 points at 8,127.
On the global front, Asian shares were tradnig mixed. Japan’s Nikkei and Shanghai Composite were trading flat with positive bias. However, Hang seng was down 0.4% and Singapore’s Straits Times was trading lower by 0.5%.
US stocks ended lower on Thursday as profit taking in oil shares pared intra-day gains after the European Central Bank lowered its key policy rate. Further, US initial jobless claims rose to 302,000 last week, data showed.
The Dow Jones ended down 0.05% at 17,069.58, the broader S&P 500 closed 0.15% down at 1,997.65 and the tech-laden Nasdaq ended down 0.22% at 4,562.29.
STOCKS TO WATCH
Infosys, India’s second largest IT services company on Thursday said that it has signed a five-year group-wide IT outsourcing services contract with BP (formerly British Petroleum).
Tech Mahindra has entered into an agreement with Bombardier Aerospace in which the company will provide engineering solutions to Bombardier.
United Breweries has acquired the brewery assets viz., land, building, plant, machinery etc. of Pacific Spirits Private Limited, located at Shahjahanpur, district Alwar, Rajasthan for a consideration of Rs. 105 Crores.
Sharda Cropchem, which markets and distributes crop protection chemicals outside India, intends to raise Rs 327-352 crore through an offer for sale (25 per cent of equity capital) by existing strategic investor HEP Mauritius and the promoters. The company derives 80 per cent of its revenue from agrochemical products with the rest coming from conveyer belts and dyes.
Info Edge is launching a QIP and the price band is set at Rs.735-765 per equity share.
United Spirits may continue to remain under pressure on the back of weak earnings.