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The rupee traded sideways near 83.96, with the dollar strengthening to 102.95$. USD/JPY was volatile around 146.20$. Capital markets were weak, with market breadth remaining flat, particularly on an RBI policy day, as participants awaited cues from the USD/JPY movement. In the short term, the rupee is expected to continue trading within a range of 83.80-84.15
The rupee traded sideways near 83.96, with the dollar strengthening to 102.95$. USD/JPY was volatile around 146.20$. Capital markets were weak, with market breadth remaining flat, particularly on an RBI policy day, as participants awaited cues from the USD/JPY movement. In the short term, the rupee is expected to continue trading within a range of 83.80-84.15
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Sebi amends AIF rule; specifies maximum permissible limit for extension of Large Value Funds' tenure
Sebi amends AIF rule; specifies maximum permissible limit for extension of Large Value Funds' tenure
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Vipul Organics announced the development of a refined organic intermediate for manufacturing specialty chemicals, to be used in the automobile industry
Vipul Organics announced the development of a refined organic intermediate for manufacturing specialty chemicals, to be used in the automobile industry
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While markets may reflect slight disappointment at key rates as also the stance of policy remaining unchanged, that was the consensus expectation as well. The recent indication of easing in global markets had risen to hopes of a somewhat dovish guidance, however, MPC remained focussed on headline inflation, perhaps guided by a steep increase in projection for Q2FY25 from 3.8% earlier to 4.4% and considering that food & vegetable prices have not cooled enough as expected. However, the outlook remains promising with robust growth, moderating inflation, improving liquidity, and easing financial conditions in global markets. As such, bond yields remained largely unchanged with some volatility. The same trend is expected in near term with markets trading in a narrow range.
While markets may reflect slight disappointment at key rates as also the stance of policy remaining unchanged, that was the consensus expectation as well. The recent indication of easing in global markets had risen to hopes of a somewhat dovish guidance, however, MPC remained focussed on headline inflation, perhaps guided by a steep increase in projection for Q2FY25 from 3.8% earlier to 4.4% and considering that food & vegetable prices have not cooled enough as expected. However, the outlook remains promising with robust growth, moderating inflation, improving liquidity, and easing financial conditions in global markets. As such, bond yields remained largely unchanged with some volatility. The same trend is expected in near term with markets trading in a narrow range.
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