The key domestic benchmarks are likely to open
higher today tracking a firm trend in Asian markets and a positive closing at
Wall Street overnight as better than expected US retail sales data signaled
underlying strength in the world’s biggest economy. US retail sales climbed 0.7
per cent in November over the previous month while jobless claims fell by 3,000
to 294,000 in the week ended December 6, 2014. China’s Shanghai Composite and
Hang Seng were trading higher while Japan’s Nikkei 225 surged ahead of elections
this weekend. Back home, all eyes will be on the consumer inflation and factory
data due after market hours today. Consumer prices may have risen at the slowest
pace since early 2012, up by 4.4 per cent in November 2014, after an annual 5.5
per cent gain in October, analysts’ reckoned. Meanwhile, industrial output
likely grew 2.5 per cent in October 2014 from the same month a year ago,
matching the pace set in September 2014.
