Jet Airways, Bharti Airtel to be in focus
The markets are likely to trade range-bound today tracking mixed global cues. US stocks and the euro edged lower on Thursday as data suggested Europe's debt woes were spreading and worsening a global economic slowdown.
Dow Jones industrial average and the Standard & Poor's 500 Index ended down 0.1% each, respectively.
However, Asian shares inched higher on Friday. The MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, while Japan's Nikkei stock average opened up 0.6%.
Back home, technical analysts suggest that the Nifty has support around 4,870 levels. At 810 am Indian Standard Time, the SGX Nifty was down 18 points at 4,900 levels.
Among individual stocks, Jet Airways has posted a consolidated net loss of Rs 354 crore in the March quarter, compared with a loss of Rs 200 crore in the year-ago period. This could keep the stock under pressure in trade today.
Bharti Airtel has acquired 49% stake in US telecom major Qualcomm for an initial investment of Rs 907 crore.
Tata Global Beverages saw its consolidated net profit decline by 36.4% year-on-year to Rs 54.21 crore for the quarter ended March 2012.
Also keep a tab on BPCL, Crompton Greaves, ITC, Sun TV and Suzlon Energy as they will announce their respective March quarter results.
The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE