Positive start; IIP eyed - IIFL

The index of industrial production (IIP) data will provide hints on whether the economy is seeing any green shoots of recovery. The market ended on a cautious note on Monday ahead of the data. With global cues mostly higher, the Indian market is expected to open positive.

The day's proceedings will be dominated by how the data is viewed by the market. US stocks gained on hopes that lawmakers would pass a budget. The Dow climbed 0.3%, closing at a record high for the fifth day. The S&P 500 gained 0.3% and is less than 10 points away from its all-time closing high. The Nasdaq was up 0.2%.

Asian stocks are at a 19-month high boosted by comments from the Bank of Japan deputy-governor nominee Kikuo Iwata who said decisive monetary easing is needed. Nikkei is up 0.6%

Minutes of the Bank of Japan's February meeting highlighted expectations for increased monetary stimulus.

Source : Equity Bulls

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