The key domestic benchmarks may open higher today with the Sensex
poised to hit yet another fresh high tracking a record closing at Wall Street
and a surge in Japanese stocks amid bets of further Japanese and European
Central Bank (ECB) stimulus. Asian stocks were trading mixed as speculation of a
stimulus boost in Japan was offset by concerns that a dip in home prices in
China may deepen the slowdown in the world’s second biggest economy. China’s
Shanghai Composite was trading lower after data showed that new home prices fell
in all but one city tracked by a government survey, in October. Hang Seng fell
while Japan’s Nikkei 225 surged amid bets that Prime Minster Shinzo Abe may
delay a planned sales tax hike, call an election and shore up stimulus after the
economy succumbed to a technical recession. Back home, rising speculation of a
rate cut by the RBI at its upcoming meet after October wholesale inflation hit a
five-year low of 1.77 per cent may continue to boost sentiment.
