January 1, 2013 / 3:07 AM / in 5 years

MARKET EYE-Positive opening seen on "cliff" deal optimism

* Traders expect Indian shares to edge higher in early trade
after Wall Street rallied on Monday and global equities finished
their best year in the last three as U.S. lawmakers closed in on
a deal to avoid a budget crisis that many fear could cripple the
world economy in 2013. 
* U.S. President Barack Obama said Congress was close to an
agreement that would start chipping away at the deficit without
raising middle-class taxes.  
* Traders say potential rate cut by RBI in January and FII flows
would be key for near term direction.
* Fiscal and economic reforms, disinvestment and IPOs expected
to remain top themes in 2013 for Indian shares. 
* Also on watch, India's current account deficit widened to a
record high of 5.4 percent of GDP in the September quarter as
export growth slowed more sharply than imports, with a similar
gap expected in the December quarter likely to prolong weakness
in the rupee. 

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)

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