The key domestic benchmarks are likely to open little changed today
tracking a mixed trend in Asian markets and a fifth straight bearish closing at
Wall Street overnight as investors digested disappointing bank earnings and the
Swiss National Bank’s decision to suddenly scrap its commitment to keep the
franc above 1.20 per euro which led a flight from risky assets. China’s Shanghai
Composite rose amid hopes of further monetary easing by policymakers to spur
growth in the world’s second biggest economy. Hang Seng fell while Japan’s
Nikkei 225 was trading lower as a stronger yen dimmed the appeal of exporter
stocks. Back home, the Sensex may continue to be supported by the Reserve Bank
of India’s (RBI) surprise decision to cut interest rates yesterday amidst
softening inflationary pressures to help spur a revival of the investment cycle
in Asia’s third biggest economy. Investors will eye December quarter earnings
numbers from Wipro and Reliance Industries Limited today.
