GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange (SES: S68.SI – news) up 0.25 percent and the MSCI (NYSE: MSCI – news) -Asia Pacific index excluding Japan is 0.27 percent higher.
* Asian shares inched higher on Wednesday, while the dollar held a three-week low on expectations Federal Reserve Chairman Ben Bernanke will reiterate later in the day that U.S. monetary policy is to stay accommodative.
* The S&P 500 snapped its eight-day winning streak on Tuesday after disappointing sales from Coca-Cola, while investors turned cautious on the day before the Federal Reserve chairman’s congressional testimony.
FACTORS TO WATCH * Finance Minister P. Chidambaram will address a press conference at 1200 IST (0630 GMT) on the sidelines of a conference.
* HDFC Bank Ltd (BSE: HDFCBANK.BO – news) is expected to report another quarter of 30 percent profit growth in the June quarter.
* India’s oil minister, oil secretary and company officials to be present at an industry seminar. (0430 GMT)
INDIAN STOCKS TO WATCH
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* NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.
India relaxes foreign investment rules in various sectors to revive growth
RIL can raise KG-D6 block output by 60 mmscmd – Economic Times (http://link.reuters.com/put69t)
Cipla, Alembic (BSE: ALEMBICLTD.BO – news) move court on new drug pricing – Business Standard (http://link.reuters.com/nut69t)
Coal India (BSE: COALINDIA.BO – news) , NTPC (BSE: NTPC.BO – news) to sign fuel supply pacts as quality row cools
India’s Jet says Etihad investment to be completed in a few months
Development Credit Bank April-June net more than doubles
Renault-Nissan to invest $ 2.5 bln in India over 5 years
Texmaco eyeing ‘strategic alliance’ with Kalindee – Economic Times (http://link.reuters.com/mut69t)
Tata Power seeks to avoid fines on $ 2.3 billion loans – Mint (http://link.reuters.com/kut69t)
Essar Energy (LSE: ESSR.L – news) on lookout for partners for oil, gas assets – Financial Chronicle (http://link.reuters.com/jut69t) (Compiled by Manoj Rawal)