The key domestic benchmarks are likely to witness a gap up opening
today tracking a mostly positive trend in markets across Asia and a stronger
finish at Wall Street overnight amid bets of continued easy money policy by
leading central banks as global growth slows, bolstering the appetite for risky
assets. All eyes are on the European Central Bank (ECB) which is expected to
unveil a 550 billion euro sovereign bond buying program to help stave off the
threat of deflation in the 19-member Euro area economy. China’s Shanghai
Composite posted mild gains while Hang Seng rose but Japan’s Nikkei 225 was
trading tad lower as a stronger yen dimmed the appeal of exporter stocks. The
Sensex may extend record highs on sustained fund inflows from overseas investors
which are betting big on the India growth story amid strong reform measures and
an interest rate cut. Shares of oil major Cairn India may be in focus as it
unveils its December quarter earnings today.
