India : Markets may open negative; Reliance in focus ahead of results

Snapping a three-day winning streak, Indian benchmark indices slipped lower to end the day flat on Friday, attributed to profit booking in IT bellwethers Infosys and TCS. The stock of TCS fell over about 4 per cent following N Chandrasekaran’s departure to head as chairman of Tata Sons. Finally, the BSE Sensex declined 9.10 points or 0.03 per cent to 27238.06; while the CNX Nifty was down by 6.85 points or 0.08 per cent to 8,400.35European markets finished broadly higher on Friday with shares in France leading in the region. The CAC 40 is up 1.20 per cent while Germany’s DAX is up 0.94 per cent and London’s FTSE 100 is up 0.62 per cent.The U.S. stocks rose moderately on Friday owing to quarterly earnings from some of the country’s biggest banks, as Nasdaq closed at a record high. The Dow Jones Industrial Average slipped 5.27 points to close at 19,885.73, moving in a roughly 100-points range throughout the session. The S&P 500 index added 4.20 points to end at 2,274.64. The Nasdaq Composite index climbed 26.63 points to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.Asian markets on Monday morning are trading in negative terrain on worries that UK’s Prime Minister, Theresa May will seek a ‘hard Brexit’. The Shanghai Composite is trading lower by 1.15 per cent; Hang Seng is trading lower by 0.86 per cent and Nikkei 225 trading is lower by 0.77 per cent.At 7:50 am, SGX Nifty index dropped 0.36 per cent to 8,393.50, indicating a nervous start for Indian equities. The index major, Reliance Industries will release its third quarter earnings later in the day.