The key domestic benchmarks are likely to open little changed today
tracking a subdued trend in fellow Asian peers and a flat closing at Wall Street
overnight as an upward revision of Q3 GDP data was offset by a dip in US
consumer confidence and slowing home prices gains, clouding the outlook for the
world’s biggest economy. China’s Shanghai Composite was trading higher amid
prospects for increased investment, while Hang Seng was trading flat and Japan’s
Nikkei 225 booked slim losses as a stronger yen dimmed the appeal of exporter
stocks. Back home, caution will prevail ahead of the Q2 GDP data due later this
week which may show a deceleration in growth in Asia’s third biggest economy
amid lower farm output and subdued industrial activity, and ahead of the
November F&O expiry on Thursday. Investors will continue to eye the Winter
Session of Parliament where the Modi government is looking get key bills passed
including the proposal to hike the FDI limit in insurance and amendments to the
land acquisition law.
