The key domestic benchmarks are set to open higher today as investors cheer economic data which showed a rebound in industrial output in November and a lower than expected inflation number last month which kept bets intact of a rate cut in February. India’s industrial production bounced back in positive territory, expanding at the quickest clip in five months in November 2014 driven by a rebound in capital goods sector, signaling a factory revival in Asia’s third biggest economy. Industrial output rose by 3.8 per cent in November 2014 from the same month a year ago, government data showed in Monday. Retail inflation stood at 5 per cent in December 2014, rising from 4.38 per cent in November 2014, but staying below the RBI’s 6 per cent goal. Asian stocks were trading mixed even as China’s Shanghai Composite and Hang Seng rose after Chinese trade data beat estimates. Exports jumped 9.7 per cent, year on year in December 2014 while imports fell by a less than expected 2.4 per cent. Japan’s Nikkei 225 slumped as a stronger yen dimmed the appeal of exporter stocks.
