Indian Markets to track muted Asian Markets - Trans Scan Securities

The Indian markets are likely to open on a softer note tracking muted Asian markets, while investors will keep a close eye on TCS after the IT major reported Q1 results post market hours on Thursday. At 07:30 a.m., Nifty India stock futures in Singapore were trading 16 points lower at 6036, indicating a weak opening on the domestic market.

Overnight, US markets ended higher after Morgan Stanley and others reported better-than-expected earnings. IBM raised its full-year outlook and reported earnings that beat estimates, though the company's revenue missed forecasts. Analysts expect S&P 500 companies' second-quarter earnings to have grown 3.5 percent from a year earlier, with revenue up 1.1 percent, according to Thomson Reuter's data.

Major Asian markets edged lower even though US markets ended with smart gains with Dow and the S&P 500 indices hitting all-time intraday highs.

Source : Equity Bulls

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