Indian shares tipped to open lower on subdued global sentiment
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Indian shares are expected to open slightly lower on Friday as global risk sentiment remained subdued amid renewed worries over economic growth that was amplified by Russia's threat to use nuclear weapons.
India's NSE stock futures listed on the Singapore exchange were down 0.4% as of 0209 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.5%.
The NSE Nifty 50 index ended 0.5% lower at 17,629.80 on Thursday, while the S&P BSE Sensex dropped 0.57% to 59,119.72.
A Federal Reserve dead-set on fighting inflation is leaving little hope that this year's rocky markets will end anytime soon, as policymakers signal rates rises faster and higher than many investors were expecting.
Stocks to watch:
** India's Reserve Bank of India on Thursday directed Mahindra and Mahindra Financial Services to stop using third-party services for loan recovery until further orders
** Indian automaker Mahindra & Mahindra is in talks with global investors to raise between $250 million and $500 million to accelerate its plans to build electric vehicles.
** Hero MotoCorp hiked price of its motorcycles & scooters from Sept. 22.
** Indian Oil plans Panipat refinery maintenance, to revamp naphtha cracker.
** Tata Steel on Thursday approved the amalgamation of Tata Steel Long Products, Tinplate Co, Tata Metaliks, TRF, Indian Steel & Wire Products, Tata Steel Mining with the company.
** Indian refiners are set to skip purchases of Russia ESPO crude oil this month due to higher freight rates, turning to Africa and the Middle East instead, industry sources said.
** Somany Ceramics will sell its equity stake in Amora Ceramics.
** India's Zydus Lifesciences will subscribe to additional equity shares and debentures of AMP Energy Green Nine.
** Bombay Dyeing And Mfg Co approved raising of funds worth up to 9.40 billion Indian rupees on rights basis.
** Cipla received an establishment inspection report from U.S. health regulators to inspect its Indore plant.
** Nakoda Group of Industries said electricity supply at its Maharashtra factory unit was disconnected.
** Muthoot Capital Services will consider fund raising by issue of non-convertible debentures.
** Mefcom Capital will consider sub-division of shares in 1:5 ratio.
