Today’s inflation figures and Friday’s Q3 GDP report will be keenly followed. While inflation will moderate further the GDP for Oct-Dec quarter is likely to come in at around 6-6.5%. For the whole year, the government sees GDP growing at 7.1%. The Government is also slated to unveil an interim trade policy today. Exporters, especially those hit by the global downturn may get some additional sops.
Coming to today’s market, we expect the key indices to open with a positive bias, but may run out of steam later. Considering today’s F&O expiry, we do not rule out increased intra-day gyrations. US stocks closed lower overnight while their counterparts in Europe advanced. Asian markets are mixed this morning.
