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Fed holds fire; Nifty jumps over 1%
Amar Ambani, Head of Research, IIFL, said, “Dovish Fed policy stance and moderating India’s inflationary scenario provide much needed leeway to the RBI to act on the rates. There is a strong perception that a rate cut of 25-50 bps is in the offing at the upcoming monetary review at the end of the month. The coming week is expected to be volatile on account of F&O expiry. The street would also be eyeing eight infrastructure Industries data for the month of August.”