BENGALURU, Sept 30 (Reuters) - Indian shares are tipped
to open slightly lower on Friday, ahead of an expected interest
rate hike by the country's central bank to fight inflation amid
lingering fears of a global recession.
India's NSE stock futures listed on the Singapore exchange
were down 0.5% as of 0220 GMT, while MSCI's broadest
index of Asia-Pacific shares outside Japan was
The NSE Nifty 50 index fell 0.24% to 16,818.10 on
Thursday, while the S&P BSE Sensex dropped 0.33% to
Both indexes are on a seven-session losing streak, their
worst such performance since mid-February.
A majority of market participants are expecting the Reserve
Bank of India to raise its key interest rate by 50 basis points
for a third consecutive time.
Foreign institutional investors sold a net 35.99 billion
Indian rupees ($441.7 million) worth of equities on Thursday,
while domestic investors purchased net 31.62 billion rupees
worth, as per provisional data available with the National Stock
Stocks to watch:
** Adani Enterprises, the flagship company of
Indian coal-to-edible-oils conglomerate Adani Group, will make
its debut on the benchmark Nifty 50 index on Friday, replacing
** India's top refiner Indian Oil Corp has set up a
subsidiary to pool the funds of its overseas units in order to
meet capital and trade finance needs, it said in a statement on
** Shree Ajit Pulp And Paper deferred the
consideration of issuance of shares on rights basis.
** Arvind Smartspaces will consolidate partnership
interest in Ahmedabad East Infrastructure.
** Adani Ports incorporated a unit named Adani
** Himalaya Food International said the company
will be debt free in the year ending March 2023.
** Railtel Corp of India approved a scheme of
amalgamation of Railtel Enterprises with company.
** Indian bikemaker Hero MotoCorp said on Thursday
it will invest $60 million in California-based Zero Motorcycles
to jointly develop electric motorcycles.
** FTSE Russell, a global index provider, said it retained
India on the watch list for potential inclusion in the FTSE
Emerging Markets Government Bond index.
** Goa Carbon approved fund raising up to 2
** Rail Vikas Nigam said the company was awarded a
letter of acceptance by National Highways Authority of India.
** Life Insurance Corp of India raised its stake in
** India will require all passenger cars to have a minimum
of six airbags from Oct. 1, 2023, a year later than originally
** Lupin said it got U.S. FDA nod for mirabegron
($1 = 81.4730 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru)