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Market Ahead, March 5: Top factors that are going to steer indices today

Asian shares dropped on Tuesday after China cut its economic growth target and pledged measures to support the economy

BS Web Team  |  New Delhi 

Global cues, stock-specific action and macro data are among the key factors that are likely to steer indices on Tuesday. In addition, geopolitical tensions between India and Pakistan will also be closely watched.

According to reports, a fighter jet of the Indian Air Force (IAF) on Monday shot down a Pakistani military drone in Bikaner sector of the Indo-Pak border using an air-to-air missile.

On the macro front, the Nikkei India Services PMI data for February 2019 is slated to be unveiled today.

STOCKS TO WATCH

Reliance Industries (RIL): Reliance Industrial Investments and Holdings (RIIHL), an arm of RIL, has agreed to acquire 82-83 per cent stake in two companies, Grab A Grub Services and C-Square Info Solutions.

Karnataka Bank: Private sector Karnataka Bank Monday said the RBI has slapped a fine of Rs 4 crore on the bank for violating regulatory norms.

Jet Airways: The crisis-hit Jet Airways on Monday grounded another two aircraft due to non-payment issue making its 20 per cent fleet non-operational.

Coal India: Coal India (CIL) supplied 440.80 million tonne (mt) coal to power plants between April and February this financial year — a 7.1 per cent increase over the same period a year ago.

TRADE-SET UP

Asian shares dropped on Tuesday after China cut its economic growth target and pledged measures to support the economy amid growing challenges from rising debt and a dispute over trade and technology with the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent and Japan’s Nikkei dropped 0.3 per cent.

US stocks ended in the red on Monday on a weak US construction spending report. The Dow Jones Industrial Average fell 259.74 points, or 1 per cent, to 25,766.58, the S&P 500 lost 19.01 points, or 0.68 per cent, to 2,784.68 and the Nasdaq Composite dropped 44.40 points, or 0.58 per cent, to 7,550.95.

First Published: Tue, March 05 2019. 07:02 IST
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