INDIAN BENCHMARKS
Indian shares are poised to witness a gap up opening on Monday
amid optimism among traders ahead of tomorrow’s much anticipated policy
decision from the Reserve Bank of India ( RBI) which is expected to cut
interest rates. SGX Nifty is trading 24.50 points higher. Investors
will also focus on the March Manufacturing PMI set for release today and the
Services PMI later this week, which will offer further cues over the health of
the Indian economy. Indian shares fell on Friday, posting their first weekly loss in
five, as investors braced for yet another weak quarter of earnings and after a
torrid session in Asia following tepid Japan business sentiment data. The
S&P BSE Sensex and CNX Nifty ended 0.28%-0.33% lower each.
Global
Markets:
·Asian share prices held firm on Monday
after solid U.S. payroll data underpinned investor risk sentiment while dovish
comments from Federal Reserve Chair Janet Yellen the previous week kept the
U.S. dollar in check.
·US stocks ended higher Friday as
investors bet that a spate of strong economic data, including the March jobs
report, won’t speed up the pace of interest-rate increases by the Federal
Reserve.
·European equities tumbled to a one-month
low on the first trading day of the quarter on Friday, with energy stocks hit
by weaker oil prices while Osram retreated after it was dropped from Apple's
top supplier list.
Major
Headlines of the day:
· Bajaj
Auto to ready a Royal Enfield rival.
· Adani
wins nod for Australian coal project.
· India
Ratings downgrades Renuka Sugar.
Trend in FII flows: The FIIs
were net sellers of Rs -214.01 Cr in the
cash segment on Friday while the DIIs were net buyers of Rs -519.91 Cr, as per the
provisional figures released by the NSE.
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