RBI Policy announcement By CapitalAim
RBI Policy announcement
by Mr. Debabrata Bhattacharjee, Head of Research, CapitalAim.
RBI rate cut with 0.25 BPS. RBI is doing in line with government prospective. Governments wanted a rate cut for further growth in economy. This will give boost to industry. But it also depends on Banks and lenders, will they pass on the benefit to their clients. Most of the brokerage firms expecting a rate cut between 0.25 – 0.50 BPS. From stock market point of view, it is already discounted in indices.
Traders are looking to book some profit from here which can dive indices to lower levels. Whereas, on Monday’s derivative data shows the PCR which stood at 1.61 which indicates, market has a limited upside zone in near term & also highest open interest concentrates in between 11000-11100 CE strikes level.
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