 "10 things you should know before the opening bell")
Global cues:
Asian shares could come under pressure on Wednesday after the world’s share markets were rattled by fears of an impending reduction in the U.S. Federal Reserve’s stimulus following positive U.S. data.
The Dow and the S&P 500 fell for a third straight day on Tuesday, dropping from record levels in a broad decline as investors took profits amid signs of a weak holiday shopping season.
[caption id=“attachment_1260303” align=“alignright” width=“380”]  Representational Image. Reuters[/caption]
Gold and silver, which like stocks have benefited from the U.S. stimulus because of inflation fears, traded near 5-month lows.Gold last stood at $1,222.74 per ounce near Tuesday’s five-month low of $1,215.60 while silver traded at $19.10, having slipped to $18.94 on Tuesday.
Business/ Stock news:
Telecom stocks will be in focus today. The Empowered Group of Ministers, headed by Finance Minister P Chidambaram, today approved the much-awaited guidelines on telecom M&As and decided on the quantum of 2G spectrum to be auctioned in January 2014.
Larsen & Toubro has signed its five-year refinancing at a reduced size of around US$362m from an earlier planned US$370m, sources said.
Bharti Airtel Ltd hit the international market with a benchmark euro bond offering. The company is offering the five-year euro bonds for investors.
The Mumbai police’s economic offences wing seized the assets of Jignesh Shah, chairman and managing director of Financial Technologies (India) Ltd in connection with the Rs.5,574 crore payment crisis at National Spot Exchange Ltd.
Economy news:
The Reserve Bank of India said on Tuesday it accepted all 29 bids for 108.59 billion rupees at its one-day reverse repo auction through which it absorbs excess liquidity from the banking system. It had accepted all 7 bids for 29.27 billion rupees at its one-day repo auction through which it injects liquidity into the banking system.
Foreign Direct Investment into the country declined by about 38 percent, year-on-year, to USD 2.91 billion in September, according to the Department of Industrial Policy and Promotion
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