“Consolidation continued in the market as investors stayed cautious due to disappointment in earnings and the flight of FIIs. The US Fed continued its rate-cutting cycle to stimulate the economy and is expecting a similar 25-bps rate cut in December policy meet amid moderation in inflation. While inflation in India is estimated to increase in October and the strengthening USD would reinforce RBI to hold the rate in the near-term,” said Geojit’s Vinod Nair.
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