MARKET LIVE: SGX Nifty is indicating a negative start for domestic indices

Corporate earnings, global cues, and update on monsoon will give direction to the market today.

They will first react to major results announced yesterday in post-market hours. In that regard, Tata Motors and Bank of Baroda will be in focus. So will be agri sector stocks after a weather department official yesterday said India is likely to get above-average rainfall in the next two weeks.

The SGX Nifty is indicating a negative start for domestic indices.
 

On Thursday. the S&P BSE Sensex closed at 37,831 level, down 0.04 per cent. The broader Nifty50, too, shed 0.17 per cent to settle at 11,252 levels.

The rupee slipped by 6 paise to close at 69.04 against the US dollar.

RESULTS TODAY

Analysts expect a weak quarter for Maruti Suzuki due to the slowdown in demand and plummeting volumes which would offset the gains due to higher net realization. READ MORE

As for Bajaj Auto, analysts expect the inferior product mix and higher discounting to drag down the company's profit. READ MORE

As many as 52 other companies are scheduled to declare their June quarter results.

GLOBAL CUES

Wall Street fell on Thursday on weak corporate results and after the ECB failed to cut rates. Asian share prices opened a tad lower on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.15 per cent while Japan's Nikkei dipped 0.3 per cent.

(With inputs from Reuters)