BSE Sensex seen opening lower, GDP data eyed

The BSE Sensex is set to open lower on Wednesday, as nervous investors eye mounting opposition to the government's reform agenda and await data that may show Asia's third-largest economy grew at its weakest pace in more than two years last quarter.

Growth probably slowed to an annual 6.9% in the quarter to September , the median forecast from a poll of 22 economists showed, dragged down by high interest rates and sluggish global expansion.
The data is due around 11 am (0530 GMT).
The last time India's gross domestic product (GDP) growth was below 7% was in the quarter through June 2009, when western economies were stepping out of the global financial crisis of 2008.
Prime Minister Manmohan Singh late on Tuesday rejected calls to reverse a decision allowing foreign supermarket giants into India's USD450 billion retail sector, but fierce protest from opposition parties have shut down parliament for six days, threatening other major reform bills.
Market juggernaut State Bank of India, the country's top lender, will be watched after the bank said late on Tuesday it expected demand for loans to rise 18-19% in the current fiscal year to March, despite the central bank's recent interest rate hikes.
Euro zone officials agreed on Tuesday on two ways to leverage the firepower of their 440 billion euro (USD587 billion)bailout fund, and also agreed to extend further aid
payments to Greece and Ireland.
At 0830 (0300 GMT) the MSCI's broadest index of Asia Pacific shares outside Japan was flat, while Japan's Nikkei was down 0.8%.
Nifty India stock futures in Singapore were trading down by 0.23%, pointing to a lower opening for the Indian market.

Stocks to watch

Jet Airways after a top official told Reuters the carrier planned to sell and lease back aircraft to raise up to USD300 million over the next six months and cut its debt.
Ansal Housing and Construction after the company said its board would consider on Friday a proposal to buy back shares.
K S Oils after its board approved raising up to 2.5 billion rupees via qualified institutional placement.