Amar Ambani, Head of Research, IIFL, said, “All focus would shift to the RBI policy meet. After a hefty 50 basis points cut during September, markets do not expect much to happen on the rate front during the December RBI monetary policy review. The central bank has undertaken four cuts this calendar year, with interest rates softening by cumulative 125 basis points. It is likely that the central bank will pause to gauge the recent spike in food prices and assess whether lower inflationary levels are sustainable. Among the other important macro-economic data is Nikkei PMI manufacturing data. Market on Tuesday will also react to Q2 GDP numbers. However, much will depend on the progress of gross value added (GVA) during the quarter.”
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