The
key domestic benchmarks are likely to open higher today tracking a mostly
positive trend in fellow Asian markets and a positive closing at Wall Street
overnight. Asian stocks rose as China’s Q3 GDP data beat estimates. The world’s
second biggest economy expanded 7.3 per cent in July-September 2014, year on
year, compared to analysts’ estimates of 7.2 per cent growth. However, the pace
of growth was the slowest since Q1 2009. China’s Shanghai Composite was trading
with slim gains, Hang Seng rose while Japan’s Nikkei 225 fell as a stronger yen
dimmed the appeal of exporter stocks. Back home, sentiment may remain bullish
after BJP’s victory in the assembly elections while oil and gas reforms amid
diesel price deregulation will continue to support Dalal Street. The stocks of
Cairn India, HDFC Bank and JSW Steel will be in focus today as they unveil their
Q2 earnings numbers today.
