Check out: Cues that will decide Nifty's direction today

On Friday, the Sensex ended flat at 17,557.74, down 3.13 points or 0.02% and the Nifty closed at 5,320.40, down 2.55 points or 0.05%.

Let's have a look at global cues today.

US markets:

The US markets turned higher in the final minutes of trading, with the S&P logging its sixth-consecutive rally, despite a disappointing Chinese trade report that raised worries over slowing global growth. 

For the week, the Dow gained 0.85%, the S&P 500 rallied 1.07%, and the Nasdaq jumped 1.78%.

US economic data:

Import prices fell 0.6% in July for the fourth straight month versus an expectation of a gain of 0.1%. The unexpected decline could give the Federal Reserve more reason to ease monetary policy.

European Markets:

The European markets ended marginally lower on Friday as soft Chinese macro data prompted investors to take a breather after a sharp two-week rally, but a drop in the region's volatility index to a three-week low signaled growing investors' appetite for risk.

Asian markets:

At 7: 41 am (IST), Asian markets were trading lower. China's Shanghai Composite was down 0.49% or 10.73 points at 2,158.09. Hong Kong's Hang Seng was down 0.22% or 43.59 points at 20,092.53.

Japan's Nikkei was flat at 8,897.81. Singapore's Straits Times was flat at 3,052.84.  South Korea's Seoul Composite shed 0.35% or 6.84 points at 1,939.56. Taiwan's Taiwan Weighted was up 0.14% or 10.75 points at 7,451.87.

Currency space:

Euro was flat versus the dollar as signs of slowing global economic growth added to concern Europe’s sovereign-debt crisis is worsening, damping appetite for riskier assets. The dollar index held above the 82.5 mark.

Commodities:

Brent crude prices recovered after slipping to USD 111 per barrel levels. Brent crude is currently above USD 113 per barrel levels. 

Gold prices gained on stimulus hopes after weak Chinese data. 

Stocks in news:

Maruti Suzuki 's chairman RC Bhargav told CNBC-TV18, that plans to resume production will be announced this week.

Reliance  has sold its stake in Yemen oil block to Indonesia's Medco Energi. It sold 25% stake in Medco Energi for USD 90 million.

Thomas Cook  has got shareholders' nod for India business stake sale.

Kingfisher Airlines ’ reported net loss widened to Rs 650 crore this quarter. Capacity reduction led to 84% drop in revenues. The company is in talks with various strategic and financial investors to bring in fresh capital.

According to a CNBC-TV18 poll, Tata Steel may see a sharp 87% decline in profits year-on-year due to higher extraordinary income last year. Meanwhile, Coal India may report a 16% growth in sales, but margin compression by 300 bps expected on account of wage hikes.

Vini Amesar.
vini.amesar@network18online.com