Pre-market: Markets may have a weak start

At 8.30am, all the Asian markets were in the red and the SGX Nifty was trading lower by 0.3% at 8,578.

The benchmark indices are likely to extend the losses of the previous session, tracking the weak trend across Asia and the negative close on Wall Street overnight.

The markets had ended in the red on Thursday, with the Sensex shedding more than 100 points and Nifty ending below the 8,600 mark, , weighed down by disappointing earnings by Lupin and Bajaj Auto.

At 8.30am, the Singapore, the SGX Nifty was trading lower by 0.3% at 8,578.

The market participants will continue to watch the developments in the ongoing Parliament session as also the scheduled earnings from  heavyweights such as Reliance Industries and Axis Bank. The markets will also react to the numbers unveiled by Wipro, GAIL, United Spirits and Biocon on Thursday.

Meanwhile, officials from the lender institutions the European Commission, the European Central Bank and IMF will be in Athens to start detailed discussions with the Greek government.

GLOBAL MARKETS

All the Asian stock markets fell at opening bell on Friday after a survey of Chinese manufacturing activity was weaker than expected, while US jobs data underpinned the dollar as it bolstered bets that the US Fed is on track to hike interest rates later this year. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.8%, on course for a weekly loss of more than 2%.

The Hang Seng Index dropped 0.7% and Nikkei slipped by 0.4%. The Kospi touched an eight-day low. And the Shanghai Composite index had edged lower by 0.3%.

Overnight, Wall Street had chalked up a three-day losing streak, with the Dow Jones Industrial Average closing about half a percent lower for the year, on the back of lackluster earnings from index majors such as 3M and Caterpillar, and the Nasdaq closing down by 0.55%.

STOCKS TO WATCH

Wipro is lileky to be on the investor's radar after posting a 4% rise in net profit at Rs 2,187.8 crore compared with the corresponding quarter in 2014-15.

GAIL India is set to see action on the bourses after reporting a 32% decline in net profit at Rs 424.14 crore for the first quarter ended June on account of drop in LPG and petrochemical production and lower prices.

Sterlite Technologies reported consolidated net loss of Rs 11.27 crore for the first quarter ended June 30. Keep an eye on this counter.

Bajaj Holdings Investment reported a 17% increase in consolidated net profit at Rs 613 crore for the first quarter ended June 30, 2015.

Tata Sponge Iron Limited, a Tata Steel subsidiary, posted an 84% drop in net profit to Rs 7.09 crore in the first quarter ended June 30, 2015 against a net of Rs 44.28 crore in same period last year.