The key domestic benchmarks are likely to open on a subdued note today
tracking a mixed trend in fellow Asian peers even as US markets finished higher
overnight amid hopes of a Greek debt deal and a rebound in oil prices. China’s
Shanghai Composite rebounded on hopes of fresh stimulus to revive the world’s
second biggest economy after manufacturing shrank last month, Hang Seng fell and
Japan’s Nikkei 225 was trading lower as a stronger yen dimmed the appeal of
exporter stocks. Back home, the RBI is likely to keep its repo rate unchanged at
7.75 per cent after announcing a 25 bps cut last month outside of a scheduled
meet as the apex bank looks to the government to maintain fiscal discipline even
as inflationary pressures ease in Asia’s third biggest economy. Lupin and Punjab
National Bank will unveil their Q3 earnings numbers today.
