SENSEX NIFTY
Apr 04, 2012, 09.08 AM IST | Source: Moneycontrol.com

Market watch: Cues that will impact Indian market today

The US markets clawed back from their worst levels but still ended in negative territory Tuesday following the latest FED meeting minutes that showed policymakers toned down the likelihood for further quantitative easing.

Moneycontrol Bureau

The US markets clawed back from their worst levels but still ended in negative territory Tuesday following the latest FED meeting minutes that showed policymakers toned down the likelihood for further quantitative easing.

However, the major averages remain above the key psychological thresholds, although the session did see the Dow snap its three day winning streak.

US economic data:

Factory orders rebounded 1.3% in February. Still, the reading was below the 1.5% gain expected by economists.

Data to watch out for:

ADP employment report may show that private payroll employment fell to 208,000 in March. And ISM-non manufacturing index is expected to come in at 57.

European market:

European markets closed lower, a day after recording their biggest daily gain in three weeks, with the Spanish market hit by concerns over its ability to tackle its deficit.

Spain's public debt will reach 79.8% of GDP in 2012, well above the European Union's recommended 60% ceiling. A rise in the number of registered jobless figures in Spain also added to the worries on the outlook for the economy.

Asian market:

In Asia, markets in China, Hong Kong and Taiwan shut today.

Indian market:

The Sensex gained momentum for the third consecutive session on Tuesday, led by banks, on speculation that the Reserve Bank of India may cut rates in credit policy that schedule to be announced on April 17. Even oil & gas and metals stocks added more gains.

The BSE benchmark rose 119.27 points or 0.68%, to close at 17,597.42. Meanwhile, the NSE benchmark was up 40.60 points at 5,358.50.

Stocks in news:

Power companies have reasons to cheer as a presidential directive from the Government of India has ordered Coal India to sign fuel supply pacts with power producers at the 80% trigger level.

UK based The Children's Investment Fund is not willing to back down from its international arbitration proceeding against the government of India despite the FSA setback.

DGCA is still working on final KFA report. DGCA is giving daily updates to Aviation Ministry on KFA.

Cairn India has notified second discovery in KG-ONN in KG basin.

BHEL has withdrawn follow-on offer due to volatile market.

Vini Amesar.
vini.amesar@network18online.com

READ MORE ON  Markets, Nifty, Sensex, NSE, BSE, US, Europe, China, Hong Kong, Taiwan

ADS BY GOOGLE

video of the day

All portents good; optimistic for next few Diwali's: Damani

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.