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Friday November 20, 09:40 AM
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BSE Sensex to open down, banks watched
MUMBAI (Reuters) - The BSE Sensex (^BSESN : 17578.23 +58.97
) is set to open lower on Friday in tandem with weak world markets on renewed concerns about the outlook for the global economy.
Banks will be in focus after a finance ministry official said on Thursday a bill to reform insurance sector was unlikely to be cleared by the parliament's winter session.
The MSCI's measure of Asian markets other than Japan was down 0.8 percent by 0324 GMT, while Japan's Nikkei shed 1.3 percent.
The Nifty (^NSEI : 5262.8 +16.9) India stock futures in Singapore were down 0.6 percent, indicating the domestic market will start lower.
Shares slumped globally on Thursday as investors reassessed optimistic expectations for a rebound in world economic growth.
The 30-share BSE index fell 1.25 percent on Thursday to 16,785.65, its lowest close in a week.
STOCKS TO WATCH
* Offshore services provider Jindal Drilling & Industries Ltd after it got an order worth 6.35 billion rupees from state-run Oil & Natural Gas Corp for deployment of a rig.
* New Delhi Television Ltd after U.S. media firm Scripps Networks Interactive Inc said on Thursday it would buy a majority stake in the Indian broadcaster's lifestyle unit for $55 million as part of its plan to expand internationally.
* Triveni Engineering & Industries Ltd, after the maker of sugar and turbines said net profit for the quarter ended September more than doubled.
* Bhushan Steel after the Economic Times said it was looking to sell a 5 percent stake to strategic investors for about 4 billion rupees ($86.2 million), citing an unidentified source.
(Reporting by Ami Shah and Bharghavi Nagaraju; Editing by Ranjit Gangadharan)
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