The key domestic benchmarks are likely to open in the red tracking a
bearish trend in markets across Asia and flat finish at Wall Street overnight.
Asian stocks extended a sell-off as China’s inflation data missed estimates.
China’s Shanghai Composite tumbled after producer prices fell for the 33rd
straight month while consumer inflation slumped to the lowest level since 2009
signaling weakness in the economy. Hang Seng was trading lower while Japan’s
Nikkei 225 plunged as a stronger yen dimmed the appeal of exporter stocks. Back
home, investors will tread the path of caution as the recent current account
deficit data which showed that CAD widened to the most in over a year marred
optimism over the economy while investors eye consumer inflation and IIP data to
be released on Friday while keeping a close watch on events in the Parliament
where the government is trying to get key bills passed in the Parliament.
