11:00 am: Federal cabinet likely to meet in New Delhi. Agenda not given.
11:30 am: Trade Minister Nirmala Sitharaman to brief media after Board of Trade Meeting in New Delhi.
INDIA TOP NEWS RBI cuts rates to lowest since 2011, banks given liquidity comfort RBI cut its policy interest rate by 25 basis points to 6.50 percent on Tuesday, reducing it to a more than five-year low while dangling the prospect of another cut later this year if inflation trends stay benign.
As Apple plots India push, Samsung stakes turf with revamped phones Samsung Electronics Co Ltd is regaining smartphone share in India with a revamped line-up packed with special features including a safety mode for motorcyclists, as rival Apple Inc readies a renewed push into the world's fastest-growing market.
British government met potential buyer for Tata Steel UK The British government opened talks on Tuesday with potential buyers for Tata Steel's UK operations, including Sanjeev Gupta's commodities company Liberty Group, as it stepped up its battle to find a buyer for the loss-making business.
India sacks some foreign-funded consultants; health programmes may suffer India is dismissing dozens of foreign-funded health experts working inside the government, a move seen as part of a broader clampdown on the influence of non-government organisations on public policy.
Bombay Stock Exchange looking to list next year -CEO Bombay Stock Exchange Ltd aims to list next year, its CEO said, in a deal that will raise the profile of Asia's oldest bourse at a time of industry consolidation, as investors such as Deutsche Boerse AG get the opportunity to cash out.
RBI to mull more niche bank permits RBI will explore licensing differentiated banks such as custodian banks and lenders focusing on wholesale and long-term financing, Governor Raghuram Rajan said on Tuesday.
Top Chinese carmakers plot major push into India China's top carmaker SAIC Motor Corp and Great Wall Motor, its biggest maker of SUVs, are spearheading the country's first major push into India, one of the world's fastest growing auto markets, as growth at home stagnates.
India serves steel products anti-dumping notice on China, others-source A government body has issued notices to China, Japan and South Korea proposing to initiate a probe on the 'dumping' of some steel products into India, a source said.
India steps up fight against cigarette firms over health warnings India's health ministry has ordered government agencies to enforce a new rule for bigger health warnings on cigarette packs, stepping up a fight against the country's $10 billion cigarette industry that has shut down its factories in protest.
GLOBAL TOP NEWS Republican Cruz crushes Trump in Wisconsin, says party will unite Republican Ted Cruz easily won the Wisconsin presidential primary on Tuesday, dealing a blow to front-runner Donald Trump's hopes of amassing enough delegates for the party's nomination and boosting chances of a rare contested convention.
Obama's inversion curbs kill Pfizer's $160 billion Allergan deal U.S. drug maker Pfizer Inc's PFE.N agreed on Tuesday to terminate its $160 billion agreement to acquire Botox maker Allergan Plc AGN.N, in a major victory to U.S. President Barack Obama's drive to stop tax-dodging corporate mergers.
Iceland's leader resigns, first casualty of Panama Papers Iceland's Prime Minister Sigmundur David Gunnlaugsson resigned on Tuesday, becoming the first casualty of leaked documents from a Panamanian law firm which have shone a spotlight on the offshore wealth of politicians and public figures worldwide.
LOCAL MARKETS OUTLOOK (As reported by NewsRise) The SGX Nifty Futures was trading at 7,627.00, up 0.24 pct from its previous close.
The Indian rupee is poised to open higher against the dollar, tracking its Asian currencies, as weaker-than-expected U.S. economic data further dampened chances of an early rate increase by the Federal Reserve.
Indian government bonds will likely gain in early trade, as sentiment remains upbeat after the central bank eased policy rates and announced steps to ease liquidity deficit in the banking system. The yield on the benchmark 7.59 pct bond maturing in 2026 is likely to trade in a 7.42 pct-7.47 pct range.
GLOBAL MARKETS Wall Street fell sharply on Tuesday as investors took gains off the table following a recent rally and ahead of an upcoming quarterly reporting season that is expected to reveal sharply lower earnings.
Asian share prices won some reprieve after a sharp fall in the previous session, but gains were modest as soft economic data from the United States and Europe cast a shadow on the global economic outlook.
The dollar hovered near a 17-month low against the yen after taking a fresh knock overnight on comments by Japan's prime minister which suggested the authorities were cautious towards arresting the yen's appreciation.
U.S. Treasury yields fell on Tuesday led by long-dated bonds, which touched their lowest in more than a month, as weak economic data in the United States and Europe soured the outlookfor growth and boosted investor demand for safe-haven government debt.
Oil prices jumped in early trading, supported by growing expectations that exporters will agree to freeze their output amid global oversupply, although Iran's plans to boost production are seen as capping bigger gains.
Gold held sharp overnight gains as soft global economic data and a tumble in equities sent investors scurrying towards the safe-haven metal.
MARKETS CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 66.46/66.49 April 5 -$120.6 mln -$40.48 mln 10-yr bond yield 7.68 pct Month-to-date $740.98 mln $81.73 mln Year-to-date $1.27 bln -$678.19 mln For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 66.46 Indian rupees) (Reporting by Nishit Kunal in Bengaluru)
