Markets may open higher; FOMC eyed

Markets are likely to break 3 days losing streak and open positive in early trades tracking global cues. All eyes on minutes of the Federal Reserve's last policy meeting today which will provide some clarity on when it might start scaling back stimulus.

Traders will continue to monitor the rupee movement as it breached 64/USD mark yesterday.

At 800 hrs Indian Standard Time the SGX Nifty was up 57 points at 5,434.

According to technical experts, the Nifty may seek support around 5,360-5,330, while face resistance around 5,445-5,470.

The S&P 500 bounced on Tuesday to end a four-day losing skid, as earnings from Best Buy and TJX Cos helped buoy retailers and consumer discretionary stocks. Investors have been grappling with uncertainty over when the Federal Reserve might begin to wind down its stimulus measures.

Asian markets were getting a much-needed reprieve on Wednesday as U.S. borrowing costs eased and investors everywhere hunkered down for minutes of the Federal Reserve's July policy meeting -- though some feared they might only sow more confusion.

Japanese and Korean shares both started marginally firmer after steep falls on Tuesday

STOCKS TO WATCH

NSEL announced to remove CEO and MD Anjani Sinha and CFO Shashidhar Kotian subject to further investigation on a day when it failed to meet its first payout obligation.

To arrest the declining production from the Panna field, ONGC and its consortium partners - RIL and BG Exploration and Production India — are jointly investing Rs 950 crore to drill more wells.

IOB is planning to raise around $500 million through MTN before December.

GAIL will enter into a contract with a Pakistani firm to export natural gas through a pipeline from Punjab.

L&T has won contract valued at Rs 1,500 crore from exploration and production company Petroleum Development Oman LLC (PDO)

Fortis Healthcare has completed the sale of its entire 65% stake in Vietnam-based hospital for $80 million.