Reuters Market Eye - The BSE Sensex gains 0.13 percent and the Nifty is up 0.12 percent. State Bank of India gains 0.6 percent while Coal India (COAL.NS) is up 0.3 percent ahead of their quarterly results later in the day.
Shares in United Spirits Ltd (UNSP.NS) rise as much as 6.1 percent on hopes Indian liquor baron Vijay Mallya's company is nearing a deal to sell a stake to Diageo (DGE.L), with sources telling Reuters an announcement could be made as early as Friday.
However, Asian shares extend losses, weighed down by worries over the risk of a recession in the world's largest economy as the United States faces a looming fiscal crisis and by uncertainty over a bailout for Greece, which keep sovereign bonds firmly bid.
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India's economy probably lost momentum towards the end of 2015 on dwindling domestic and global demand even as the Reserve Bank of India (RBI) eased policy four times to boost growth last year, a Reuters poll found. Full Article