MARKETS LIVE: Global cues, rupee to steer indices; Tata Motors in focus

Worries over global economic slowdown after the European Commission on Thursday sharply cut its forecasts for eurozone economic growth in 2019 and 2020 are likely to have a bearing on the investor sentiment on Friday. 

Moreover, next batch of corporate results, movement of rupee against the US dollar, oil prices, stock-specific action and global peers are also expected to influence domestic equities today. 

STOCKS IN FOCUS

Tata Motors: The auto major reported the biggest quarterly loss of Rs 26,961 crore among Indian corporates after it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter.

MRF: Tyre major MRF on Thursday reported 18 per cent decline in standalone net profit at Rs 279.26 crore for December quarter 2018, hit by increase in overall expenses during the period.

Aurobindo Pharma: The pharma company posted a 19.7 per cent rise in net profit at Rs 712.2 crore in the third quarter ended December on a year-on-year (YoY).

SAIL: The state-run steel maker on Thursday said its consolidated net profit jumped manifold to Rs 616.30 crore during the quarter ended on December 31, 2018, helped by lower stocks level and higher income.

RESULTS TODAY

Over 225 companies including BPCL, GSPL, Gujarat Gas, Greenply Industries, Excel Crop Care, Indian Energy Exchange (IEX), Inox Wind, JK Lakshmi Cement, Jaiprakash Associates, Mahindra & Mahindra, Dr Lal PathLabs, NHPC, NDTV, Nalco,  Rupa, Sun TV and UCO Bank. 

RUPEE CHECK

The rupee Thursday appreciated by 11 paise to close at 71.45 against the US dollar after the Reserve Bank of India cut the repo rate and changed its policy stance to 'neutral'.

SGX NIFTY

At 08:03 am, Nifty futures on Singapore Exchange (SGX) traded 29.50 points or 0.27 per cent lower at 11,065.50, indicating a weak opening for the Nifty50 index back home.

GLOBAL MARKETS

Asian stocks slipped on Friday as investors fretted about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.3 per cent while Japan’s Nikkei fell 1.2 per cent. 

In the overnight trade, US stocks ended with sharp losses. The Dow Jones fell  0.86 per cent, to 25,171.83, the S&P 500 lost 0.93 per cent and the Nasdaq Composite dropped 1.18 per cent, to 7,288.35.

(with Reuters input)