Sensex, Nifty to open on a positive note

The main indices will look at adjusting to the global market movements even as mid-caps and small -caps will see wild swings. Investors seem to be doing well to get in and out of these counters without much emotional attachment. Auto stocks will remain in focus after numbers showed most companies had clocked healthy growth in select segments.

On expected lines, the RBI kept the repo rate and CRR unchanged at 6.75% and 4% respectively. The policy commentary seems to suggest that pause could continue in the first meeting of 2016 also given that key variables for incremental rate reduction would unfold over the coming few months. While remaining confident about achieving the 6% CPI target of January 2016, the central bank is wary about any spike in food inflation and recent uptick seen in the core index. Pursuit of fiscal consolidation by the government would be critical to offset the inflationary impact of the seventh pay commission.

The outlook is a positive start. The main indices will look at adjusting to the global market movements even as mid-caps and small caps will see wild swings. Investors seem to be doing well to get in and out of these counters without much emotional attachment. Auto stocks will remain in focus after numbers showed most companies had clocked healthy growth in select segments. The winter session of Parliament will be closely eyed. On tap during the coming days are the ECB's policy meet tomorrow and Opec summit on Friday. Asian markets are trading lower following unhealthy data on US manufacturing  which contracted last month to its weakest level since June 2009. On the other hand construction spending rose. Japan's Nikkei and South Korea's Kospi are marginally lower for now.  US indices notched up gains with the Dow and S&P 500 adding close to a percent each.

Foreign Direct Investment (FDI) into India grew by 13 per cent to US$16.63 billion during the April-September period of the current fiscal year, according to the Department of Industrial Policy & Promotion (DIPP). FDI stood at US$14.69 billion during April-September 2014.

Amtek Auto is likely to cut its workforce by combining several operations to save costs even as the company is constantly looking to reduce its huge debt burden, reports a financial newspaper.
The company has a total workforce of 16,000 in India, including that of its various subsidiaries.

Vijaya Bank has started the process of financing around 60 start-ups in various sectors, MD & CEO Kishore Sansi has been quoted as saying by a business daily. The public sector bank had plans to finance start-ups on a smaller scale earlier, Sansi told reporters in Mangaluru on Tuesday.

Bankers to the loss-making Jyoti Structures Ltd. have decided to convert Rs. 307.6 crore of loans into shares at Rs. 26.90 apiece, a premium to the current market price, reports a business daily.

Bankers to IVRCL Ltd. have decided to invoke the provisions of the Strategic Debt Restructuring (SDR), reports a business daily.

The Government's proposed sale of 10% stake in Coal India Ltd. (CIL) is unlikely to materialise before April, reports a financial newspaper.

Aurobindo Pharma Limited announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Risedronate Sodium Tablets USP, 5 mg, 30 mg and 35 mg (ANDA 200296). This approval is an extension of tentative approval received on 10th October 2012. This product is ready for launch.

The Finance Ministry reportedly said that the monetary policy reflects a "very balanced approach" on the part of the Reserve Bank in promoting growth and managing inflation.

Report says that Enforcement Directorate and income tax department  conducted raids in Chennai at the firms owned by Karti Chidambaram, son of former finance minister P Chidambaram.

IVRCL reportedly said that its lenders have invoked strategic debt restructuring (SDR) in the company.