Nifty futures rise by 0.85%

Nov 27 2012, 09:27 IST
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SummaryThe MSCI-Asia Pacific index excluding Japan is up 0.65 percent.

GLOBAL MARKETS ROUNDUP

* Nifty futures on the Singapore Exchange rise 0.85 percent. The MSCI-Asia Pacific index excluding Japan is up 0.65 percent

* Wall Street slipped on Monday, pulling back from last week's gains, as retailers fell on concerns about heavy discounts at the start of the U.S. holiday shopping season and the overhang of the "fiscal cliff" kept investors wary of making big bets.

* The euro hit a one-month high and Asian shares climbed for a seventh straight day on Tuesday after a deal on new debt targets for Greece and a political agreement on disbursing the next installment of aid.

FACTORS TO WATCH

* Finance minister P Chidambaram will address the media at 4:15 p.m. at the Congress headquarters in New Delhi on how the government intends to push its economic reforms in parliament against the tactics of an obstructive opposition.

* Top officials from Reserve Bank of India and Chinese government part of the 'Asian Financial Cooperation Conference' in Mumbai.

* RBI Deputy Governor Anand Sinha speaks on panel at 0415 GMT on Basel III. Will India force its banks to raise capital next year when the new rules kick in?

INDIAN STOCKS TO WATCH

MACRO/POLICY

* Moody's says India's rating outlook is stable.

* India's central bank has relaxed overseas borrowing rules for successful bidders in the country's cellphone airwaves auction, making it easier for them to raise money to pay the cash-strapped government.

* India's National Stock Exchange (NSE) has named Chitra Ramkrishna as its new chief executive officer, effective April 1, 2013, the country's biggest stock exchange said on Monday. NSE's current CEO Ravi Narain will become its non-executive vice

chairman, effective Apr. 1, it said in a statement.

RESOURCES

* ConocoPhillips, ONGC likely to explore shale gas in India

* India's ONGC Videsh said it would get an average 1 million tonnes a year (20,000 barrels per day) for a period of over 25 year with a peak of 1.6 million tonnes from its planned acquisition of a stake in the Kashagan Field in the Caspian Sea.

* The oil ministry plans a uniform marketing margin for natural gas produced in the country as it moves decisively in the dispute between key customers and suppliers such as Reliance Industries and Gail. Government sources said that the ministry would make an exception only for liquefied natural gas, piped supply to households and auto gas.

MAJOR

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