INDIAN BENCHMARKS Flat opening seen for Indian markets.
Indian markets are likely to open little changed on Tuesday as traders stick to a cautious approach ahead of the March retail inflation and February IIP data due today. SGX Nifty is trading 5.00 points lower. Indian shares gained in line with global markets on Monday, though caution crept in, as market awaits March-quarter earnings for companies, beginning with Infosys. The S&P BSE Sensex rose 1.41% and CNX Nifty gained 1.54%.
• Asian stocks rose on Tuesday, led by a rebound in Japanese stocks, while commodities such as crude oil stood tall thanks to a sagging dollar.
• US stocks slipped at the start of a first-quarter earnings season that is expected to paint a bleak picture of corporate profits.
• European shares rose on Monday, reversing earlier losses thanks in part to gains in Italian banks and mining stocks.
Major Headlines of the day:
Tata Steel sells UK long-product plant.
Tax liability cloud over Cairn-Vedanta merger.
AC major Blue Star to set up 2 units at Rs215 crore investment.
Trend in FII flows: The FIIs were net sellers of Rs -107.23 Cr in the cash segment on Monday while the DIIs were net buyers of Rs 303.88 Cr, as per the provisional figures released by the NSE