Markets to open weak tracking negative global cues

Indian Indices:

Following negative trend in the global markets, the key indices is likely to open in red on Friday. SGX Nifty is trading 51.00 points lower.

India’s NSE index fell nearly 1% on Thursday, marking its biggest single-day fall in nearly 2-1/2 weeks as foreign investors sales and expiry of July derivatives weighed on blue-chips.

On Thursday (July 31, 2014) Sensex closed at 25894.97, down by 192.45 points, while the Nifty fell 70.10 points to close at 7721.30

Global Market:

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.

U.S. stocks slumped Thursday as investors reacted to disappointing corporate earnings reports and assessed the implications of the approaching end to economic stimulus from the Federal Reserve.

European shares fell sharply on Thursday, with the euro zone’s blue-chip index slipping to a three-month low, on concerns of an earlier than expected interest rate hike in the Uniteed States and a debt default by Argentina.

Major Headlines of the day.

Cipla to market BioQuiddity’s products in EU.

USFDA raises concern over drug production process at Cadila.

Cholamandalam Investment net profit up 2%

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