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BSE Sensex seen starting higher, Ranbaxy eyed

 The BSE Sensex is expected to start higher on Wednesday after five consecutive sessions of losses, but cooling economic growth and lack of policy initiatives to revive investment will be a drag.

"The opening will be tracking gains overseas but the inherent slowdown in the growth story here is a cause of worry. So the gains are going to be temporary," said Neeraj Dewan, director at Quantum Securities.

Asian stocks rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt.

By 0245 GMT, the MSCI's broadest index of Asia Pacific shares outside Japan was trading up 2.5 percent, while the Nifty India stock futures in Singapore were up 1.9 percent, pointing to a higher opening for the domestic market.

Drugmaker Ranbaxy will be watched after it announced a consent decree with the U.S. Food and Drug Administration to further strengthen procedures and policies.

The main 30-share BSE index fell 1.3 percent on Tuesday to its lowest close in 28 months, taking losses over five sessions to 5.2 percent.

STOCKS TO WATCH

* Tata Motors, after a top executive said the company would increase output of light commercial trucks from its Pantnagar plant in North India by up to 90,000 vehicles a year from early 2012.

* Telecom network service provider GTL Ltd and group firm GTL Infrastructure Ltd after sources told Reuters the firms have received final approval from lenders for restructuring loans worth 160 billion rupees.

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