10 things you need to know before the opening bell

Global cues

The S&P 500 index and the Dow industrials closed on Thursday at record highs, a day after Federal Reserve Chairman Ben Bernanke said the U.S. central bank will keep a loose monetary policy for some time to lower the unemployment rate.(Reuters)

The rally in Asian stocks showed signs of running out of puff on Friday, even after a record closing high on Wall Street, while the selloff in the dollar paused as market attention turned to major Chinese data due on Monday. (Reuters)

[caption id=“attachment_950571” align=“alignleft” width=“380”]  The Bombay Stock Exchange. AFP.[/caption]

The US dollar was quietly nursing its losses on Friday as the smoke cleared after a couple of sessions of wild action that left markets hoping for a bit of calm and consolidation.(Reuters)

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Gold rose for a fifth session on Friday, on track for its biggest weekly gain in nearly two years on easing fears of an early end to U.S. monetary stimulus that has boosted bullion’s appeal as a hedge against inflation.(Reuters)

Business/ Stock news:

All eyes are on IT majorInfosys, which will report its earnings for the April-June quarter today. According to a_CNBC- TV18_poll,analysts on an average see Infosys net profit declining 3.3. percent on quarter to Rs 2,315 crore, while its rupee revenue is expected to rise 5.5 percent to Rs 11,029 crore. Analysts, however, expect the company’s dollar revenues to increase 1 percent quarter on quarter to $1.96 billion.

Elder Pharma, after the company said to cut debt its boardhas approved a proposal to restructure business either by raising capital, hiving off of assets or other strategic options.

Mangalore Chemicals and Fertilizers, after Zuari Agro again increased its stake in the company by 2.5 percent to 16 percent.

Bajaj Auto, as the staff stalemate at its Chakan unit continues.

Economy news:

Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.

RBI Governor D Subbarao presented an uncertain outlook for the economy, saying it is difficult to predict when global conditions affecting the rupee would ease, while asserting that the priority is to control inflation, which still remains “high.” “The rupee depreciation over the last six weeks has been because of global factors…It is difficult to say how long that effect will persist because it is factors beyond our control,” he said.