The key domestic benchmarks may open on a positive note today tracking
a firm trend across most markets in Asia. Most Asian equities rose as Japanese
shares advanced on Japanese economic data. China’s Shanghai Composite extended a
rally on hopes that the fresh wave of monetary easing by the country’s central
bank may help revive growth in the world’s second biggest economy. Hang Seng was
trading lower while Japan’s Nikkei 225 rose as a weaker yen boosted the appeal
of exporter stocks. Japan’s consumer prices excluding food rose 2.9 per cent in
October 2014 from the same month a year ago, compared to an annual 3 per cent
rise in September 2014. Industrial output edged up 0.2 per cent in October,
marking the second straight month of gains, a sign that the world’s third
biggest economy may be clawing out of a recession. Back home, all eyes will be
on Q2 GDP data to be released today which may show a deceleration in India’s
growth to 5 per cent from 5.7 per cent in the June quarter. Caution ahead of the
RBI policy meet on Tuesday may trim gains at the Sensex.
