U.S. stocks were under pressure Wednesday following a government report that showed the U.S. economy contracted during the fourth quarter of 2012. Dow slipped 0.32% at 13910. Nasdaq and S&P went down 0.4% each.
In Asia, most markets mirrored losses on the Wall Street. Nikkei slipped0.4% to 11,066. However, Shanghai Composite bucked trends and went up half a per cent to 2382. At 700 hrs IST, the SGX Nifty was flat at 6058.
In individual stocks, the infrastructure Debt Fund, backed by IL&FS and Life Insurance Corporation of India (LIC), is initially planning to raise upto $1 billion from overseas and domestic investors. Watch out for IL&FS.
State-owned Union Bank of India said it will get a capital infusion of Rs 2,500 crore as part of the government's plan to recapitalise the public sector banks.
Watch out for Infosys as the company on Wednesday made a fresh round of management reshuffle. Reshuffling of positions in EIH may also bring the stock into focus.
Also watch out for ICICI Bank, Allahabad Bank, Blue Star, Cummins India, Godrej Consumer as the companies post their results later today
