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"The anticipation of stability within the coalition government at the centre, coupled with the RBI's upward revision of its growth forecast for FY25 to 7.2%, fuelled a broad-based rally in the domestic market. The Indian market surpassed its previous record high set on exit-poll day and reached a fresh peak. Though the last mile towards the inflation target remains sticky, investors are expecting the MPC to be one step closer to the easing cycle."
"The anticipation of stability within the coalition government at the centre, coupled with the RBI's upward revision of its growth forecast for FY25 to 7.2%, fuelled a broad-based rally in the domestic market. The Indian market surpassed its previous record high set on exit-poll day and reached a fresh peak. Though the last mile towards the inflation target remains sticky, investors are expecting the MPC to be one step closer to the easing cycle."
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The Reserve Bank of India's Monetary Policy Committee (MPC) has again chosen to keep the repo rate unchanged at 6.5% for the eighth consecutive time in its bi-monthly interest rate decision. This decision reflects the RBI's cautious approach to managing inflation and supporting economic growth amidst global uncertainties and domestic challenges.With the new Modi-led NDA government taking the reins, the RBI is expected to closely monitor its fiscal policies, particularly their potential impact on inflation. This proactive stance underscores the central bank's commitment to maintaining price stability.
The Reserve Bank of India's Monetary Policy Committee (MPC) has again chosen to keep the repo rate unchanged at 6.5% for the eighth consecutive time in its bi-monthly interest rate decision. This decision reflects the RBI's cautious approach to managing inflation and supporting economic growth amidst global uncertainties and domestic challenges.With the new Modi-led NDA government taking the reins, the RBI is expected to closely monitor its fiscal policies, particularly their potential impact on inflation. This proactive stance underscores the central bank's commitment to maintaining price stability.
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MPC’s decision to keep policy rates unchanged, though expected, has a surprise element since 2 members out of 6 were in favour of rate cut. Mr. Jayant Varma was in favour of a rate cut in the last meeting also. This means the number of members in favour of a rate cut is increasing. So a rate cut is likely in the next meeting.Another positive from the Governor’s speech is the upward revision in FY25 GDP growth rate to 7.2% from 7% earlier. This augurs well for corporate earnings and, therefore, for the stock market.
MPC’s decision to keep policy rates unchanged, though expected, has a surprise element since 2 members out of 6 were in favour of rate cut. Mr. Jayant Varma was in favour of a rate cut in the last meeting also. This means the number of members in favour of a rate cut is increasing. So a rate cut is likely in the next meeting.Another positive from the Governor’s speech is the upward revision in FY25 GDP growth rate to 7.2% from 7% earlier. This augurs well for corporate earnings and, therefore, for the stock market.
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"As expected, the RBI has kept the policy rate unchanged at 6.5% by eight consecutive times with a majority vote of 4:2. The MPC has continued with the stance of withdrawal of accommodation. The FY25 CPI inflation forecasted at 4.5%, whereas the GDP growth revised upward to 7.2% versus 7.0% estimated earlier. The food inflation remains higher which is likely to cool off with normal monsoon. We expect the accommodative stance post the full budget announcement on July 24. Additionally the food inflation will be key monitorable."
"As expected, the RBI has kept the policy rate unchanged at 6.5% by eight consecutive times with a majority vote of 4:2. The MPC has continued with the stance of withdrawal of accommodation. The FY25 CPI inflation forecasted at 4.5%, whereas the GDP growth revised upward to 7.2% versus 7.0% estimated earlier. The food inflation remains higher which is likely to cool off with normal monsoon. We expect the accommodative stance post the full budget announcement on July 24. Additionally the food inflation will be key monitorable."
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"The benchmark indices maintained their positive momentum, as the new coalition is about to swear in, which is predicted to be a stable government. However, anxiety persists over the new cabinet being put in place and policy measures expected to be announced in the coming budget. Meanwhile, the market is awaiting fresh signals from the RBI's comments on liquidity."
"The benchmark indices maintained their positive momentum, as the new coalition is about to swear in, which is predicted to be a stable government. However, anxiety persists over the new cabinet being put in place and policy measures expected to be announced in the coming budget. Meanwhile, the market is awaiting fresh signals from the RBI's comments on liquidity."
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"Bank Nifty closed above 49,200, forming an indecisive candle, indicating market uncertainty. It found support near its 10-day moving average, suggesting a potential rebound. Sustaining above the 21-day moving average, it shows a bullish trend. Key levels to watch are 48,600 as crucial support and 49,800 as resistance, determining the market's direction ahead."
"Bank Nifty closed above 49,200, forming an indecisive candle, indicating market uncertainty. It found support near its 10-day moving average, suggesting a potential rebound. Sustaining above the 21-day moving average, it shows a bullish trend. Key levels to watch are 48,600 as crucial support and 49,800 as resistance, determining the market's direction ahead."
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"The Nifty continued to rise after a bullish harami pattern formation yesterday on the daily timeframe. However, during the day, the index remained range-bound, oscillating between 22,650 and 22,900. The India VIX has slipped sharply below 17 in the last two days, signaling low volatility. In the near term, the index might continue remaining within the bands of 22,600-23,000."
"The Nifty continued to rise after a bullish harami pattern formation yesterday on the daily timeframe. However, during the day, the index remained range-bound, oscillating between 22,650 and 22,900. The India VIX has slipped sharply below 17 in the last two days, signaling low volatility. In the near term, the index might continue remaining within the bands of 22,600-23,000."
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