MARKETS LIVE: RBI policy meet, macro data and global cues may steer indices

The domestic equity market's movement on Tuesday is likely to be driven by the release of PMI data for the manufacturing sector and March sales numbers by auto firms. 

Moreover, the RBI's Monetary Policy Committee (MPC) will begin on Tuesday its meet for the first bi-monthly policy statement for 2019-20, which is set to be released on Thursday, April 4.

Apart from these factors, the investors will also track closely stock-specific action, movement of rupee against the US dollar, oil prices and FII inflows.

On the global front, US manufacturing activity rebounded a bit more than expected in March, according to an industry report released on Monday, as production, new orders and hiring all picked up.

British MPs on Monday again failed to agree on proposals for the next steps in the Brexit process. The voting was held for four motions for leaving the EU, but none gained a majority. Prime Minister Theresa May had earlier announced that she would step down if her deal was passed in the British Parliament

The S&P BSE Sensex trimmed gains in the fag-end of the session on Monday to end at 38,837, up 164 points or 0.42 per cent. The broader Nifty50 index, too, slipped from the day's high of 11,738.10 to settle at 11,656, up 32 points or 0.27 per cent.

GLOBAL CUES

Asia shares extended their rally on Tuesday as factory activity surveys from China and the United States boosted investor confidence, triggering the largest one-day sell-off in the US Treasury market in nearly three months.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent to a seven-month high after rallying more than one percent in the previous session. Australian shares gained 0.8 per cent while Japan’s Nikkei advanced 0.4 per cent, extending its gains for a third session.

US stocks rallied on Monday, starting off the second quarter on a strong note, as upbeat manufacturing numbers from China and the United States eased worries about slowing global growth.

Oil prices rose to fresh highs for the year on Tuesday, after a US official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.

STOCKS TO WATCH

Jet Airways: The carrier missed a $109 million loan repayment due to HSBC Bank this week, according to a Bloomberg report.

Hindustan Aeronautics Limited: HAL has announced a record turnover of over Rs 19,400 crore (provisional and unaudited) for the financial year that ended March 31.

Karnataka Bank: Bank targets Rs 1,44,000 crore business turnover for FY20, says MD and CEO of the bank, Mahabaleshwara M S

NMDC: The public sector miner produces 32.44 MT and sales of 32.38 MT iron ore in FY19

Cyient: Delivery of order worth $5 million delayed due to delay in regulatory clearances.

Godrej Properties: The company sold over 2,900 homes, its highest-ever booking, with a booking value in excess of Rs 2,100 crore in Q4 FY19

Gateway Distriparks: The firm has completed the acquisition of the entire stake held by private equity Blackstone in its subsidiary for Rs 850 crore.