The Indian headline indices- Sensex and Nifty, trading at near record high levels are likely to open higher on Tuesday morning, tracking a few factors including Supreme Court judgement on RBI’s February 12 circular, auto sales numbers and PMI data. While Sensex closed at 164.12 points higher at 38,837.18 level, Nifty was around 11,670 points. We take a look at the five factors which would trigger the Sensex, Nifty today:
Supreme Court verdict on Feb 12 circular: The apex court of India will give its judgement on Reserve Bank of India’s February 12 circular last year on the resolution of non-performing assets within 180 days among other rules. The verdict is likely to impact 75 companies which mostly comprise power companies along with infrastructure companies which have a debt of around 2.24 lakh crore.
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.
Auto Sales numbers: The automobile companies have begun releasing their sales numbers for March starting Monday.
Brexit Issue: The MPs of House of Commons couldn’t find a majority in the second round of voting in relation to alternative Brexit proposals ahead of April 12 deadline.
RBI policy rate cut: The market is expecting a policy rate cut by RBI on April 4 in view of benign inflation and global slowdown. The MPC will resume its meet today for monetary policy to be announced on Thursday.