* Nifty futures on the Singapore Exchange (SES: S68.SI – news) up 0.08 percent and the MSCI (NYSE: MSCI – news) -Asia Pacific index excluding Japan is 0.25 percent lower.

* Japanese shares skidded from a two-month peak on Friday in a sudden reversal, sparked by profit-taking ahead of a weekend election that should see Prime Minister Shinzo Abe gain control of the upper house of parliament.

* The Dow and the S&P 500 closed at record highs on Thursday after Morgan Stanley (Xetra: 885836 – news) and others reported better-than-expected earnings and Federal Reserve Chairman Ben Bernanke’s comments further reassured markets.


* Earnings on Friday: Reliance Industries Ltd, Bajaj Auto Ltd

* India’s Prime Minister Manmohan Singh will address a business chamber’s annual meeting. (0430 GMT)

* An Indian court will issue a verdict on whether to add billionaire Anil Ambani as a “witness” in an ongoing trial in a case over alleged corruption in telecoms licences allocation five years ago.

INDIAN STOCKS TO WATCH For additional press items double click NOTE: Reuters has not verified third-party stories and does not vouch for their accuracy.

India’s Tata Consultancy Services profit rises on US demand

India’s Mindtree April-June net up 51.79 pct

India cbank raises 25.32 bln rupees at OMO sale, much below target

India cbank gets no bids at special repo auction for mutual funds

India’s Bayer Cropscience says board to consider buy back

Container Corporation of India (BSE: CONCOR.BO – news) say board to consider bonus issue

Jaguar Land Rover to increase 800 mln pounds loan

Plan to hike iron ore royalty by 50 pct to hit steelmakers hard – Financial Express (http://link.reuters.com/cyj79t)

Global food majors PepsiCo (NYSE: PEP – news) , Mondelez, ITC and Britannia eye major stake in Balaji Wafers – Economic Times (http://link.reuters.com/hyj79t)

Gitanjali Gems (BSE: GITANJALI.BO – news) promoter, others barred from trading in stock market – Economic Times (http://link.reuters.com/gyj79t)

Ashok Leyland to cut wages, reduce debt – Business Standard (http://link.reuters.com/fyj79t)

In a setback to Vedanta, first gram sabha nixes mining in Niyamgiri – Financial Express (http://link.reuters.com/dyj79t) (Compiled by Manoj Rawal)