The key domestic benchmarks are likely to open on a positive note after
surging to a record high on Thursday as investors stay bullish over the
prospects of Asia’s third biggest economy as reforms lift outlook. Among the
recent measures taken by the Modi government including freeing up of diesel
prices from state control, hike in natural gas tariffs and relaxation of FDI
curbs in the real estate sector. A firm trend in Asian peers and a positive
closing at Wall Street overnight may support investor sentiment at Dalal Street.
Asian stocks rose as US third quarter economic growth beat street estimates,
vindicating the US Federal Reserve’s decision to end monthly bond purchases. The
world’s biggest economy grew by an annualized 3.5 per cent in the July-September
2014 quarter. China’s Shanghai Composite rose marginally, Hang Seng rallied and
Japan’s Nikkei 225 surged as a weaker yen boosted the appeal of exporter stocks.
Back home, the stocks of ITC and M&M will be in focus as the companies
unveil their Q2 earnings numbers.
