The key domestic benchmarks are likely to open lower today tracking a bearish trend across most Asian markets as growth fears in the US and recession concerns in Europe signal an uncertain outlook for the global economy, dimming the appeal of risky assets. A dip in US retail sales in September signaled a slowdown in the world’s biggest economy while political uncertainty in Greece added to the gloomy outlook for the European economy. China’s Shanghai Composite posted slim gains after new local currency loans beat estimates, coming in at 857 billion yuan in September, up from 750 billion yuan expected by analysts. Hang Seng was trading deep in the red while Japan’s Nikkei 225 tumbled as a stronger yen dimmed the appeal of exporter stocks. Back home, the Sensex, however, will be supported by the probability of a BJP victory in the assembly elections as indicated by opinion polls.
