MARKET EYE-Indian shares to open lower; FIIs continue to buy
* Nifty futures on the Singapore Exchange
fell 0.34 percent. The MSCI-Asia Pacific index excluding Japan
was down 0.51 percent.
* Asian shares fell on Wednesday, led by losses in technology and materials stocks after brokerage downgrades for top chip maker Intel Corp
and a warning from global miner Rio Tinto
about the uncertain near-term outlook.
* Foreign investors bought 6.13 billion rupees of stocks on Tuesday, when the BSE index
rose 0.45 percent, provisional exchange data showed. * A government panel recommended in a draft report on Tuesday that India should scrap a law that taxes asset transfers retrospectively, a move that could save Britain's Vodafone $2 billion. * Analysts say tax recommendations are positive for FII, and expect the market to gain more strength if the proposed reforms get cleared. * US Federal Reserve Chairman Ben Bernanke will meet RBI Governor Duvvuri Subbarao and the four deputy governors in Mumbai at 1130 IST (0600 GMT) for lunch followed by a closed-door meeting.