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Weak global cues likely to pull down markets; Indiabulls Housing Finance to declare quarterly results today

Weak global cues likely to pull down markets; Indiabulls Housing Finance to declare quarterly results today
The markets are likely to have a weak opening today as a consequence of its global peers' performance.
Asian shares slipped on Friday as a warning on smartphone demand from the world's largest contract chipmaker slugged the tech sector, while lofty oil prices stirred inflation fears and undermined sovereign bonds.
Wall Street was hit by the weak earnings from Philip Morris, which sent its shares down as much as 17.7% and dragged on the S&P 500.
The Dow ended down 0.34%, while the S&P 500 lost 0.57 percent and the Nasdaq 0.78%. Oil, which hit its highest in 2014, fell back an inch after hitting their highs.
The SGX Nifty is trading at levels around 10,540 versus the Nifty April Future's Thursday close of 10,578, indicating a negative opening on Dalal Street on Friday.
Despite the global markets' weak performance, the Indian markets may see a relief from the banking index after a government official said that the one-day norm of declaring defaults has been modified to 30 days for a year.
In the results front,  Tata Consultancy Services Ltd (TCS) on Thursday reported a 4.5% rise in fourth-quarter profit, beating market expectations. The company's net profit in fourth-quarter is Rs 6,904 crore. This indicating that the IT stocks are also likely to outperform today.
The results lined up for today are Indiabulls Housing Finance, Sasken Technologies and Amal Limited.
The Indian markets closed reversing their losses on Thursday. The BSE Sensex gained 0.3% to 34,427 and the NSE Nifty advanced 39 points to 10,565.
Financials remained a drag on market, with Axis Bank, IndusInd Bank and ICICI Bank dragging the Nifty Bank by 39 points. The IndusInd Bank posted a net profit of Rs 953.1 crore in Q4, close to the expectation of Rs 951.6 crore as per a CNBC-TV18 poll.
Nifty Bank managed to close in the green at 25,126 because of Yes and HDFC Bank.

Market Movers

CompanyPriceChange%Loss
ONGC121.90 -3.20
JSW Steel683.20 -13.15
Tata Steel1,083.95 -19.80
Hindalco363.40 -5.85
Power Grid Corp237.15 -2.70
CompanyPriceChange%Loss
ONGC121.90 -3.10
Power Grid Corp237.20 -2.50
M&M800.15 -5.30
NTPC116.75 -0.50
Larsen1,481.80 -6.75
CompanyPriceChange%Loss
ONGC121.90 -3.20 -2.56
JSW Steel683.20 -13.15 -1.89
Tata Steel1,083.95 -19.80 -1.79
Hindalco363.40 -5.85 -1.58
Power Grid Corp237.15 -2.70 -1.13
CompanyPriceChange%Loss
ONGC121.90 -3.10 -2.48
Power Grid Corp237.20 -2.50 -1.04
M&M800.15 -5.30 -0.66
NTPC116.75 -0.50 -0.43
Larsen1,481.80 -6.75 -0.45

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.07750.00000.00
Euro-Rupee88.31300.01600.02
Pound-Rupee103.1940-0.0320-0.03
Rupee-100 Yen0.67220.00040.05