Pre-market: Soft opening on cards; SGX Nifty down 14 points

Markets are likely to start on a weak note as global markets will weigh on the investor sentiments. The early indicator, SGX Nifty was down 14 points at 6,311 at 08:30 AM.

HDFC Bank, ITC, Reliance Inds and Wipro will unveil Q3 results today.

Foreign institutional investors (FIIs) bought shares worth a net Rs 479.28 crore on Thursday, as per provisional data from the stock exchanges.

The Dow and S&P 500 slipped on Thursday, with the S&P retreating from the previous session's record high, after earnings from Goldman Sachs and other banks disappointed investors.

Financials were the biggest drag on the market after both Goldman Sachs Group Inc and Citigroup Inc reported that lower bond trading revenue took a bite out of their quarterly profits. Goldman's earnings fell 21%. Citigroup's profit missed expectations.

Stocks got off to a lacklustre start and the dollar was on the back foot in early Asian trading on Friday after downbeat results cast a shadow over Wall Street.

MSCI's broadest index of Asia-Pacific shares outside Japan was slightly lower, while Australian shares slipped about 0.3%.

STOCKS TO WATCH

TCS reported 15.1% rise in consolidated net profit to Rs 5333 crore on 1.5% increase in revenue to Rs 21294 crore in Q3 December 2013 over Q2 September 2012. The result was announced after market hours on Thursday.

The Dubai-based Khaitan family, which owns a 99% stake in Loop Mobile, is in talks with Bharti Airtel and two private equity funds to sell its business.

ONGC and Oil India will bail out the government on disinvestment in IOC by acquiring 10% equity in the country’s largest petroleum retailer by next week.

Creditors to UB Holdings on Thursday accused the company of entering into yet another transaction in the form of a borrowing, despite court orders restraining the company from this last year.