Its an eventful Tuesday: Macros to set the tone

The Indian stock markets are expected to open in the green zone as the global charts look supportive. SGX Nifty is trading 23.00 points higher.

Events for the day:

  • Monthly auto sales and cement dispatches

  • HSBC India Manufacturing PMI

  • RBI Monetary Policy

Headlines for the day:

  • Core sector grows 4.5% in February

  • NCDEX launches bajra contract

  • NTPC starts 3 solar power projects, boosting total to 75 MW

  • FII inflows in stocks hit Rs 80K cr in FY14

Indian Indices:

The Indian stock markets are expected to open in the green zone as the global charts look supportive. SGX Nifty is trading 23.00 points higher.

The RBI is expected to keep its policy interest rate unchanged on Tuesday after retail inflation, which has become its preferred price gauge, eased to a 25-month low in February.

On Monday (March 31, 2014), the S&P BSE Sensex closed at 22386.27, up by 46.30 points, while the Nifty rose 8.30 points to close at 6704.20

Indian shares edged higher today, hitting a 6th consecutive record high and their best monthly gain since Oct as strong foreign buying has sparked a rally in blue chips, especially those depending on the domestic economy. The BSE Sensex gained 0.21% and NSE Nifty rose 0.12%

Global Indices:

Asian shares hit four-month high on Tuesday after China’s official PMI survey showed manufacturing managed to continue expanding in March, and dovish comments from Federal Reserve Chair Janet Yellen.

U.S. stocks rose on Monday, with the S&P 500 ending both March and the first quarter of 2014 with moderate gains, after Federal Reserve Chair Janet Yellen relieved concerns about a rate hike coming earlier than expected

Milan-listed shares outperformed skittish European bourses on Monday, helping a euro zone index touch a 5-1/2 year peak as the market welcomed signs that smaller Italian lenders are boosting their capital and winning over international investors.