Sensex marginally up 18 points

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Agencies: Mumbai, Nov 09 2012, 09:33 IST

on Friday, weighed down by worries over the risk of a recession in the world's largest economy as the United States faces a looming fiscal crisis, while Europe still awaits a bailout for Greece, keeping investor risk appetite subdued.

FACTORS TO WATCH

National and regional leaders of the ruling Congress party will meet outside New Delhi to look at party strategy ahead of state and national elections in 2013/2014.

Earnings on Friday: State Bank of India, Tata Steel, Coal India, Hindustan Petroleum Corp , Bharat Petroleum Corp, Indian Oil Corp

India's foreign reserves data (1130 GMT)

INDIAN STOCKS TO WATCH

TOP NEWS

Diageo Plc was close to a deal for a stake in Indian liquor baron Vijay Mallya's United Spirits Ltd after months of talks, sources with direct knowledge of the matter said, with a deal likely to be announced as soon as Friday.

Orient-Express Hotels Ltd rejected a $1.2 billion takeover offer from Indian Hotels Co Ltd as too cheap and appointed a new chief executive, saying that it was confident of its prospects as an independent company.

ENERGY/COMMODITIES

Oil & Natural Gas Corp.'s quarterly profit dropped more than 30 percent because of a sharp rise in the discount it has to give state refiners even as crude prices fell.

Steel Authority of India Ltd (SAIL) lagged expectations despite a 12 percent rise in quarterly profit, as lower sales and higher input costs capped gains.

India will pay 300 billion rupees ($5.5 billion) to state-owned fuel retailers forced to sell

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