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Markets are likely to open flat with negative bias following the subdued cues from the global markets. However, RBI Governor Raghuram Rajan's statement expressing faith in the Indian economy can provide some relief to the traders.
Raghuram Rajan post market hours on Thursday said that growth is recovering and investment is picking up, but maintained a cautious stance on inflation expectations.
On Thursday, after a volatile session, the Sensex had closed below 28,000 at 27,945 and Nifty found resistance at 8,450 to end at 8,444.
Meanwhile, all eyes would be in Greece on Sunday ahead of the voting on referendum, which could provide some clarity on whether the cash -strapped nation would be a part of European Union or not.
GLOBAL MARKETS
Asian markets are trading lower this morning on concerns with regard to Greece ahead of its referendum on Sunday. The mixed jobs data from US for the month of June has also dampened sentiments.
Japan’s Nikkei is down 0.4% while Shanghai Composite has slipped over 5% and Hang Seng is marginally lower at 0.6%. The SGX Nifty is down by 0.2%.
Wall Street had dipped on Thursday ahead of Greece woes and the unexpected jobs data for the month of June. The Dow Jones ended 0.16% down while the S&P was down by 0.03% . The Nasdaq composite was down by 0.08%
STOCKS ON THE RADAR
Bharti Airtel Ltd: Bharti Airtel, has completed the sale of mobile towers in five countries in Africa for $1.3 billion (Rs 8,237.5 crore) to cut debt.
HPCL: State-run refiner Hindustan Petroleum Corporation is planning to raise $200 million (Rs 1,260 crore) by this August, which would be used for its expansion.
Capgemini; iGate: Capgemini completes iGate buyout and iGate will now be a wholly-owned subsidiary of Capgemini.
Lupin Ltd: Drug major Lupin announced the acquisition of Russia's Biocom, marking its foray into the market which is expected to be one of the top eight pharmaceutical markets in the world by 2018.
Nestle India: After UK, it is Canada that gave Maggi Noodles from India a clean chit. The stock will be in focus.
DB Realty Ltd: The realty company has entered into a joint venture to speed up infrastructural projects in Mumbai.
Tata Motors: The luxury arm of Tata Motors, Jaguar Land Rover has agreed to a manufacturing partnership with Magna Steyr, an operating unit of Magna International Inc, to build some future vehicles in Graz, Austria.
