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Markets are likely to open in the negative territory tracking weak global cues.
Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment.
Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 0.5 percent. Japan's Nikkei .N225 lost 0.6 percent, while the broader Topix .TOPX fell 0.7 percent. SGX Nifty is quoting at 7,688.50 down by 52.50 points.
The U.S. S&P500 stock index posted its worst daily fall since April and its first monthly drop since January on Thursday, as economic data sparked concern the Federal Reserve could raise interest rates sooner than some have expected.
Problems in overseas economies added to the bearish tone, with Argentina defaulting on its debt for the second time in 12 years.
Stocks to watch:
Maruti Suzuki India, the country’s largest car maker, reported a 20.7 per cent increase in net profit at Rs 762 crore for the financial year’s first quarter ended June.
JSW Steel, India’s third-largest steel maker, plans to invest $22 billion (about Rs 1,32,000 crore) through the next 10 years to raise its total capacity from 14.3 million tonnes (mt) to 40 mt by 2025.
NTPC, the largest thermal power producer in the country, registered a decline of 13 per cent in profit, owing to new tariff regulation.
Bangalore-based defence PSU Bharat Electronics Limited (BEL) has reported 49% rise in net profit at Rs 25.60 crore for the first quarter ended June 30, 2014 compared to Rs 17.18 crore in the corresponding quarter last year.
Tech Mahindra, India’s fifth largest information technology services company, reported a net profit of Rs 631 crore in the June quarter, a drop of 8.1 per cent from the same period a year before.
ICICI Bank, India’s largest private sector lender, reported a 17 per cent growth in its standalone net profit to Rs 2,655 crore in the April-June quarter, compared with Rs 2,274 crore in the year-ago quarter, on the back of both higher core and fee income.
DLF, India's largest real estate player has reported 29 per cent decline in consolidated net profit to Rs 127.8 crore for the quarter ended June due to lower sales in the quarter.
Offshore drilling firm Aban Offshore Ltd has witnessed its net profit doubled during the quarter ended June 30, 2014, at Rs 150.19 crore for the quarter, compared to Rs 73.25 crore posted during the same period of previous year.
