Taking some breathe after strong rally yesterday, the key domestic benchmarks are likely to open on a bearish note on Friday, tracking trend in Asian markets. SGX Nifty is trading at 60.50 points down.
Investors will keep an eye on the Q2 earnings season beginning from today with Infosys announcing its September quarter financial numbers, amid hopes that an improving economy may have translated into higher profitability margins for India Inc.
The IIP data is due later today.
Benchmark rose after three sessions of losses on Thursday on hopes that US Federal Reserve would not rush into raising interest rates sparked a rally in global markets and boosted blue-chips such as ICICI Bank.
On Thursday (October 09, 2014) Sensex closed at 26637.28, up by 390.49 points, while the Nifty rose by 117.85 points to close at 7960.55.
Asian shares drooped and oil prices fell to two-year lows on Friday after weak German export data raised fears that a recession at the heart of Europe could slow down the global economy.
The S&P 500 on Thursday posted its largest percentage decline in six months on concerns about the strength of the global economy and its effect on corporate earnings
European shares set a fresh two-month low on Thursday as relief at the prospect of continued monetary support from the Federal Reserve gave way to worries about a bleak economic outlook on this side of the Atlantic.
Major Headlines of the day.
Adani Group promises Rs20,000 cr investments in MP.
RIL to complete Rs20,000 cr investment in MP by March 2016.
Ericsson bags 4G contract from Bharti Airtel.
Maruti aims big in A3 plus segment with Ciaz.