 "10 things you need to know before the opening bell")
Global market cues
US stocks edged lower on Tuesday, erasing earlier gains as the S&P 500 met resistance around its 50-day moving average, a level the index has not been able to close above for the past two weeks.(Reuters)
Asian shares drooped on Wednesday after a batch of US data reinforced views that the days of easy money from the Federal Reserve are numbered.(Reuters)
The US dollar hovered at one-month highs against a basket of major currencies on Wednesday, also in reaction to the US data.(Reuters)
[caption id=“attachment_923605” align=“alignleft” width=“380”]  The Bombay Stock Exchange. AFP.[/caption]
Gold edged higher on Wednesday after a near 1 percent fall in the previous session, as two Federal Reserve officials said the US central bank was likely to continue supporting the economy through asset purchases for some time. Spot gold rose 0.2 percent to $1,244.06 an ounce by 0014 GMT, while US gold was little changed at $1,243.5. Spot gold fell 0.9 percent on Tuesday as the dollar
strengthened. (Reuters)
Business/ Stock news:
Telecom shares, after the telecom commission approved removal of the FDI limit in the sector and allowed 100 percent foreign capital.
Reliance Communications, after a report in the Business Standard that its DTH armReliance Digital is close to selling an 80 percent stake to Sun TV.
Jet Airways, afterthe Prime Minister’s Office (PMO) denied reports the government was divided over India-UAE (Abu Dhabi) Bilateral Air Services Agreement and on Jet Airways-Etihadequity sales proposal and accused the media of spreading baseless and incorrect reports.
Hindustan Copper, as the offer for sale of about 4 percent stake in the company to hit the markets today.
Economy news:
The government is considering to tweak FDI policy in retail sector so as to allow global chains like Walmart, Carrefour and Tesco to open multi-brand stores in non-hilly cities with population less than one million. Besides, the Department for Industrial Policy and Promotion (DIPP) is also looking at other demands of retailers to relax mandatory investment norm in the back-end infrastructure, sourcing conditions and definition of MSMEs.
The Reserve Bank of India may cut cash reserve ratio (CRR) by 0.25 percentage points in its review later this month to revive growth, a report by Bank of America Merrill Lynch said today. The report, however, said that the central bank may not reduce its short-term lending rate or repo rate until the rupee stabilises.
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