INSUBCONTINENT EXCLUSIVE:
Domestic equity market witnessed a sudden selling pressure after the Reserve Bank of India kept rate unchanged at 6.50 per cent
The 30-share index settled the day 792.17 points, or 2.25 per cent, lower at 34,376.99
Its NSE counterpart Nifty ended at 10,316.45, down 282.80 points, or 2.67 per cent
The rupee also breached the 74-mark against the dollar for the first time after the monetary policy outcome.
RBI estimated that the
headline inflation may accelerate to 4.5 per cent by March 2019 quarter with upside risks.
Abhimanyu Sofat, Head of Research, IIFL
With the US yield, inching up to 3.25 per cent it was expected the RBI would increase the rates to protect against inflation rise
We believe because of the policy one should continue to focus on export-oriented and import substitution stories from both the service and
The presumption of lower inflation due to lower food prices may be a bit in coherent as core inflation may rise due to the depreciating
under selling pressure as the government Thursday announced a Rs 2.50 per litre cut in petrol and diesel prices after it reduced excise duty
by Rs 1.50 a litre and asked oil companies to absorb another Re 1.
