Indian benchmark indices are expected to open lower on Tuesday amid a consolidation after a record rally in the previous...

Indian shares are expected to open lower on Tuesday amid a consolidation after a record rally in the previous session. Benchmark indices BSE Sensex and NSE’s Nifty 50 surged 1.4 percent to hit their new record highs on Monday after a decline in Q4 GDP growth increased the prospects of a 50 basis point interest rate cut by the Reserve Bank of India (RBI) in the fiscal year 2019-20. A CNBC-TV18 poll expects the central bank to cut repo rate by 25 basis points to 5.75 percent. In global markets, Asian shares traded mixed after a heavy selloff in technology stocks in the US overnight. At 7.05 am, the SGX Nifty futures traded 37 points, or 0.31 percent, lower at 12,081, indicating a negative start for the Sensex and the Nifty 50. Here are the top stocks to watch out for in today's trade:

Among brokerages, HSBC maintains 'hold' on Maruti, while, Nomura maintains 'buy' on M&M. UBS has a 'sell' rating on HeroMoto Corp, Eicher Motors, and Bajaj Auto. for financials, Citi is bullish on IndusInd Bank, while, CLSA maintains 'buy' on ICICI Bank and Axis Bank.

"We project Brent and WTI to average $70 per barrel and $59 per barrel respectively in 2019, and $65 per barrel and $60 per barrel in 2020," Bank of America said.