'We expect the Reserve Bank of India to deliver a 25 bps rate cut in April to support growth.'
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
C Rangarajan, chairman, Prime Minister's Economic Advisory Council tells Business Standard that the measures taken by the government will lead to economic growth of at least 6 per cent in FY14 against a decadal-low growth of 5 per cent in FY13.
A reading above 50 represents expansion while one below means contraction.
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
The survey showed firms passed on a greater cost burden to consumers. Prices charged rose at their fastest pace since October.
Services growth at 5-month low in Nov as confidence slumps.
Investors have been hoping for a cyclical recovery.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
Manufacturing growth in India lost momentum in February.
Regarding employment, the manufacturing sector hiring remained broadly unchanged.
The Nikkei Markit India Manufacturing Purchasing Managers' Index increased to 50.7 in February
One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation.
Overseas education consultant NNS Chandra offers advice.
Investors went looking for bargain in banking, oil and gas and auto stocks.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
Indian economy grew 7.9% in March quarter and recorded a five-year high growth rate of 7.6% for the 2015-16 fiscal
There is a strong case for 25 basis points cut in interest rates.
Heavy dollar selling by banks and exporters alongside debt-related inflows largely supported the rupee
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
Stock markets crashed over 1,000 points or nearly 4 per cent on Monday, making it the biggest fall since 2008.
Although growth picked up slightly across the world's main emerging markets on an average, rates of expansion remain subdued
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
Indian companies have signed contracts worth Rs 3,000 crore in Iraq. The government has been facilitating these contracts with the help of the Permanent Mission of India in New York.
The survey showed firms' confidence regarding future business grew at the slowest pace in a year last month.
The currency got support from dollar flows into local equities and greenback sales from state-run lenders.
Growth concerns on China, which has already seen the yuan getting devalued twice in August, have rattled global financial markets, including that of India.
Data for the four largest emerging economies showed contrasting activity trends in November. China registered growth for the seventh month running, while India posted the fastest growth since June.
In the offshore non-deliverable forwards, the one-month contract was at 62.26/36, while the three-month was at 62.83/93.
On the employment front, services employment was unchanged in April.
Custodian banks are selling dollars for their foreign fund clients.
Adani Ports, HUL and L&T gained the most, while ICICI Bank, ONGC, GAIL and Tata Steel lost the most
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
A reading below 50 means contraction in the sector.
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Although the survey pointed to the softness in demand leveling off, a complete recovery is still some way off.
India's manufacturing expanded at a faster pace than China
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