The key domestic benchmarks may open marginally lower today tracking tepid cues
from Asian peers which were trading mostly in the red as investors weighed an
improving US economic outlook while inflationary pressures were limited. US
housing starts rebounded sharply in July, signaling a pickup in the world’s
biggest economy. Starts climbed 15.7 per cent to a 1.09 million annualized rate
in July 2014, the highest level since November. Inflation in the US climbed at
the slowest pace in five months as consumer prices rose 0.1 per cent in July
2014 from the previous month. China’s Shanghai Composite fell but Hang Seng
logged slim gains ahead of manufacturing data tomorrow. Japan’s Nikkei 225 was
trading marginally lower even as exports snapped a two-month contraction streak,
up 3.9 per cent year on year in July 2014. Back home, investors may resort to
some profit booking after two straight days of the Sensex closing at record high
levels.
