NEW DELHI (dpa-AFX) - Indian shares may open lower on Friday after Tata Motors said its net loss for June quarter widened from a year ago, weighed down by weak demand in the domestic market and woes at its Jaguar Land Rover (JLR) unit. Quarterly loss widened to Rs. 3,680 crore from Rs.1, 863 crore in the year-ago period.
On the other hand, Bank of Baroda swung to profit in its April-March quarter on account of higher non-interest income, though asset quality weakened sequentially.
Benchmark indexes Sensex and the Nifty gave up all early gains to end on a flat note Thursday as July derivative contracts expired.
The rupee ended down by 6 paise at 69.04 against the dollar, extending losses for the fourth straight session amid sustained foreign fund outflows and rising oil prices.
Asian markets are moving lower this morning after large U.S. companies delivered weak earnings reports and disappointing forecasts.
The U.S. dollar held near a two-week high as ECB president's commentary disappointed investors hoping for a more dovish stance on monetary policy. Gold traded near one-week low while oil prices fell slightly on global growth worries.
Overnight, U.S. stocks closed lower as strong durable goods orders and labor market data coupled with ECB President Mario Draghi's comments calling the risk of a recession 'pretty low' reinforced the view the Fed won't be aggressive in its easing measures.
The Dow and the S&P 500 slid around half a percent while the tech-heavy Nasdaq Composite index declined 1 percent.
European markets ended Thursday's session lower as ECB chief's mixed comments on the outlook for monetary stimulus and euro area growth failed to impress investors.
The pan European Stoxx 600 shed 0.6 percent. The German DAX tumbled 1.3 percent, France's CAC 40 index shed half a percent and the U.K.'s FTSE 100 eased 0.2 percent.
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