GIFT Nifty Signals Flat Open For India; China Down, Japan Climbs

Markets in India are likely to take heart from the higher overnight close on the Wall Street, where US benchmark indices Nasdaq crossed the 20,000 mark for the first time and the S&P 500 also closed higher after in-line consumer inflation data there strengthened expectations of a rate cut by the Federal Reserve next week.

Moreover, expectations of a lower November retail inflation data in India, scheduled for later today, which is likely to have fallen to 5.53 per cent, is also likely to add momentum to the positive global cues. Industrial production data for October is also on tap today.