Indian markets are likely to open flat tracking global indices and SGX Nifty.
US markets had a subdued session with the broad indices falling slightly lower at the end of Fridays session. The markets reacted negatively to the earnings announcments of market heavyweights such as GE and Microsoft. GE fell by 2.9 percent after beating earnings expectations for the second quarter but gave lower guidance for its fullyear profits. The Philadelphia Oil Service Index dropped by 2.3 percent on lower oil prices.
The UK markets fell lower as the pound fell to its lowest level since October 2016 due to apparently hawkish comments from the ECB President. In addition Britains budget deficit came in wider than the markets expectations for June 2017 putting further pressure on the currency. Shares of Vodafone Group climbed 0.49 percent after the company beat analyst expectations in Q1.
Indian markets rose on Fridays session as earnings results from Reliance Industries and Wipro Ltd were better
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