Sensex, Nifty likely to open lower; IndiGo, Laksmi Vilas Bank, Sugar Stocks in focus

Indian shares are likely to open lower on Thursday, tracking weak Asian stocks, as intensifying US-China frictions are likely to weigh on investor sentiment.

However, losses are likely to be limited, with the government announcing a big relief on the FDI norms, by allowing 100 percent foreign investment in contract manufacturing and coal mining, and also easing sourcing norms for single-brand retailers.

On Wednesday, Indian shares snapped a three-day rising streak tracking heavy losses in metals, energy, banking and auto counters amid concerns over a looming global recession.

The Sensex settled 189 points lower, or 0.50 percent, to close the trade at 37,452. The Nifty50 also slipped 59 points, or 0.53 percent, to settle at 11,046.

At 7.40 AM, the SGX Nifty futures traded 33 points, or 0.30 percent, lower 11,015, pointing to a negative start for the Sensex and the Nifty50.

Stocks to watch: IndiGo, Laksmi Vilas Bank, Sugar Stocks in focus.