 "All eyes on GDP data: What you need to know before the opening bell")
Global cues:
Japanese stocks paused for breath on Friday after hitting their highest closing level in nearly six years on Thursday, though they are still on track for their best November gain since 1998 as the yen tumbled.Investors also modestly trimmed their positions in regional equities, with the MSCI Asia-Pacific outside Japan .MIAPJ0000PUS index off 0.1 percent after reaching its highest close in a week on Thursday.
Equity markets in the US were closed on Thursday for the Thanksgiving holiday.
Gold snapped a two-day decline on Thursday as the dollar edged lower and signs of physical demand emerged from Chinese buyers.
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Business/ Stock news:
Tata Consultancy Services Ltd(TCS) has won a major deal from British energy giant NPower. The roles being outsourced to TCS include administrative activity, such as checking meter readings against customers’ bills.
Canada has sold a large embassy building in London’s luxury Mayfair district to Indian developer Lodha Dwellers Pvt Ltd for $530 million (Rs 3,200 cr approx), the Canadian foreign ministry said on Thursday.
Wipro, India’s third largest IT company, has been threatened with legal action by authorities for allegedly not paying Rs 17 crore property tax as sought by the Bangalore municipal corporation.
The Delhi High Court on Thursday asked the Income Tax (IT) department to take a decision on the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore to it towards the tax liability of the company which is nearly Rs 6,500 crore.
To curb the growing menace of insider trading activities in the stock market, regulator Sebi will come up with a new set of norms within next ten days, Chairman UK Sinha said today.
Economy news:
India’s economic growth probably picked up slightly in the September quarter, but weak investment levels have tempered hopes that strong rural demand and a rebound in exports will drive a sustained recovery ahead of elections due early next year.A Reuters poll of 40 economists showed gross domestic product (GDP) likely expanded 4.6 percent year-on-year, only two basis points above the previous quarter, which was the lowest in four years.