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Markets are likely to open flat tracking mixed global cues. In addition, mixed quarterly earnings are likely to affect the sentiments of the market participants.
An index of Asian shares pulled away from a three-year high on Friday after a mostly flat day on Wall Street, though a fresh S&P closing record and upbeat U.S. employment data underpinned sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.1 percent in early trade, though still on track for solid weekly gain, while Japan's Nikkei stock average added 0.4 percent.
On Wall Street overnight, the S&P 500 eked out a slight gain to its second record closing high in a row, even after earnings painted a mixed picture of the economy.
Stocks to watch:
India's largest steel maker Tata Steel on Thursday raised Rs 9,000 crore ($1.5 billion) in dollar denominated bonds in the international markets. This marks the beginning of the company's efforts to refinancing over Rs 33,000-crore loan that it has to repay in the next 18 months.Tata Steel plans to follow this round of fund-raising with an additional $5.6 billion (Rs 33,600 crore) term loans in multiple currencies in the coming months.
IT services major Wipro reported a 29.5% growth in its consolidated net profit at Rs 2,103.2 crore for April-June period, helped by large deals in the application and infrastructure space.
Bangalore-based publicly held biotechnology major Biocon has reported a decent nine per cent growth in net profit to Rs 103 crore for the first quarter of FY15 as compared to the corresponding quarter of last fiscal, despite a tepid growth of three per cent in sales to Rs 742 crore.
Ambuja Cement reported 26.2 per cent rise in net profit for the April-June quarter at Rs 409 crore on higher sales.
Telecom tower company Bharti Infratel, on Thursday, reported a 29% increase in consolidated net profit at Rs 463 crore in the quarter ended June 2014 backed by better tenancy, as compared with Rs 358 crore reported in the corresponding quarter previous year.
Mastek, an IT solutions player announced its consolidated net profit dropped by 88% to Rs 0.85 crore in the first quarter June 30, 2014.
