The key domestic benchmarks are likely to open
little changed today as investors stay on the sidelines amid the absence of
major overseas cues. While Wall Street was shut yesterday for the New Year
Holiday, markets in mainland China, Japan, South Korea, Thailand and Philippines
were closed on Friday, offering limited cues for Dalal Street. Hang Seng was
trading higher as softer Chinese factory data boosted expectations of further
policy easing to help spur a revival in the world’s second biggest economy. The
HSBC China factory gauge fell to 49.6 in December from the change mark of 50,
marking the first contraction in seven months. Back home, all eyes will be on
the December HSBC Manufacturing PMI which will offer further cues over the
health of Asia’s third biggest economy. Market experts are confident over the
outlook for the Sensex this year, which was one of the top performing global
markets in 2014 as the Modi reform spree bolsters economic growth.
