With the start of the new financial year, the market investors will keenly watch the RBI policy, auto sales numbers and PMI data ahead of general Lok Sabha elections to be held this month. The headline indices – Sensex and Nifty opened higher on Monday morning, tracking positive global cues. The SGX Nifty was trading 40 points higher or 0.34 per cent higher at 11,715.50. We take a look at five things which will steer the market today:
MPC Rate cut: The RBI’s monetary policy committee scheduled for the meeting on April 4 is likely to go for a repo-rate cut like in the previous bi-monthly policy in view of benign inflation and global slowdown threatening the domestic growth prospects, as per market experts.
Auto Sales: Automobile companies are likely to announce their monthly sales data for the March starting from today.
PMI Data: The investors will keenly watch the Nikkie’s PMI data for the manufacturing and services sector to be announced on Tuesday as it would influence the market sentiments.
Brexit Issue: Today, the MPs of House of Commons will participate in the second round of voting in relation to alternative Brexit proposals. None of MPs’ eight proposed options could secure a majority in the first set of indicative votes held on March 27.
China Economic Data: According to China’s National Bureau of Statistics, China’s purchasing manufacturers index (PMI) stood at 50.5 in March as compared with 49.2 in February. However, as per media reports, economists and experts have raised doubts over the data.
US-China trade talk: There is an expectation that US-China will end their tariff-war which began last year between both the super power economies. US President Donald Trump said Friday that the trade talks with China were going very well after the two-day meeting in Beijing got over. However, Trump also cautioned he wouldn’t accept anything less than a great deal.