Maruti Suzuki India announced that its total production increased 8.16% to 166,730 units in March 2024 as against 154,148 units recorded in March 2023.

The US dollar index is seen gaining further ground on Tuesday morning in Asia towards this years high of 104.85 registered in February. The dollar index that measures the greenback against a basket of currencies is quoting at 104.79, marginally up on the day. US ISM business activity report from March yesterday showed the highest growth since September 2022 leading benchmark treasury yields and dollar higher. US Manufacturing Purchasing Managers Index (PMI) hit 50.3 in March, surpassing projected figures of 48.4 and well exceeding February’s reading of 47.8, showing resilience in US economy that could deter the Fed from rushing into rate cuts. US 10-year benchmark treasury yields shot up to 4.3%. Labour market data this week will be keenly watched alongside Fed Powell and other Fed speakers for further cues on dollar direction.

Indias manufacturing sector ended the current fiscal year with a stellar performance. The HSBC India PMI climbed to a 16-year high on the back of the strongest increases in output and new orders since October 2020, parallel to the second-sharpest upturn in input inventories in the history of the survey. Employment returned to positive territory and firms scaled up buying levels. There was a mild pick-up in cost pressures during March, but customer retention remained a priority for goods producers who raised their charges to the least extent in over a year.

Hero MotoCorp slipped 2.44% to Rs 4,577.95 after the company’s total sales fell 5.57% to 490,415 units in March 2024 as against 519,342 units sold in March 2023.