The key domestic benchmarks are likely to open on a flat note today
tracking a mixed trend in fellow Asian peers as markets open after the Christmas
holiday. China’s Shanghai Composite rose while Hang Seng logged slim gains amid
speculation that the Chinese government is taking fresh measures to spur growth
in the world’s second biggest economy. Japan’s Nikkei 225 fell after industrial
output and retail sales surprisingly declined in November while inflation slowed
for a fourth straight month, dampening the outlook for the recession-hit world’s
third biggest economy. With the year drawing to a close, foreign investors have
slowed buying in emerging markets, weighing on Dalal Street. Overseas investors
have been net sellers in Indian stocks for eleven straight days now, the biggest
sell-off since June 2012. The stock of Reliance Capital may be in focus after
Sumitomo Mitsui Trust Bank said that it will invest about 7 billion yen or USD
58.2 million, translating into a 2.77 per cent stake in the company.
