The key domestic benchmarks are tipped to open higher today tracking a
firm trend across markets in Asia which rose amid optimism over a US economic
recovery. China’s Shanghai Composite and Hang Seng surged after reports
suggested that China’s central bank eased rules for calculation of deposits and
reserve requirements, allowing lenders to make more loans to boost credit growth
and help spur a revival in the world’s second biggest economy. Japan’s Nikkei
225 was also trading in the green. Back home, the Sensex may trade side-ways
this week as investors stick to a cautious approach with the year approaching a
close. Stocks of cement and auto companies will be in focus as they reveal their
monthly sales data. All eyes will be on the HSBC Manufacturing PMI to be
released on Friday. Other macro-cues to watch out for this week will include the
movement of the rupee against the US dollar, crude oil prices and global cues.
