The key domestic benchmarks are likely to open higher today after
better than expected consumer inflation data signaled hopes of an earlier than
expected rate cut by the RBI while a rebound in factory output pointed to a
pickup in growth in Asia’s third biggest economy. India’s industrial production
grew by 2.5 per cent in September 2014 from the same month a year ago, after an
upwardly revised 0.5 per cent gain in August 2014. India’s consumer inflation
retreated for the third month on the trot in October 2014, falling to the lowest
level on record at 5.52 per cent. In September 2014, India’s consumer price
index climbed by 6.46 per cent from the same month a year ago. Asian markets
were trading mixed as investors were cautious ahead of Chinese industrial output
and retail sales data. China’s Shanghai Composite fell while Hang Seng was flat
and Japan’s Nikkei 225 was trading higher tracking subdued cues from Wall Street
overnight.
