The key
domestic benchmarks are likely to open on a weaker note today tracking a mostly
bearish trend in Asian stocks as global sentiment in equities turns sour amid a
sell-off in crude oil which fell to the lowest level since 2009, dropping below
USD 50 per barrel and fears of Greece’s exit from the Euro area, curbing risk
taking appetite. China’s Shanghai Composite surged after China’s services
activity gauge hit a three-month high of 53.4 in December from 53 in the
previous month, with a reading above 50 signaling expansion, easing concerns
over a slowdown in the world’s second biggest economy. Hang Seng fell while
Japan’s Nikkei 225 tumbled as a stronger yen dimmed the appeal of exporter
stocks. Back home, investors will be eying the India HSBC Services activity data
to be released today which will offer fresh cues over the health of Asia’s third
biggest economy. Caution ahead of the Q3 corporate earnings season beginning
this week may weigh on the Sensex.
