ANI
29 Mar 2023, 15:18 GMT+10
New Delhi [India], March 29 (ANI): Indian stocks were marginally higher on Wednesday morning after closing largely steady during the previous session.
At the time of writing this report, Sensex and Nifty were 0.3-0.4 per cent up each.
"In the absence of near-term cues, the market is likely to remain range-bound for some days before taking a new direction," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"The recent correction has made valuations for the broader market attractive. Nifty Smallcap index and Nifty Midcap index are down around 10% and 6% respectively in the last three months," Vijayakumar added.
For fresh cues, the next RBI monetary policy meeting, scheduled to be held in the first week of April 2023, will be closely watched.
At the latest Monetary Policy Committee (MPC) of the RBI in early February, it decided to raise the repo rate by 25 basis points to 6.5 per cent to manage inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.
According to SBI Research's latest Ecowrap report, the RBI is expected to pause its interest rate hike and the current 6.5 per cent repo rate could be the terminal rate for now.
The report asserted that the RBI has enough reasons to pause the repo rate hike in the April meeting. (ANI)
Get a daily dose of Broadcast Communications news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Broadcast Communications.
More InformationNEW DELHI, India: Indian federal police documents indicate that the country has filed a graft case against the UK's BAE ...
NEW YORK, New York - U.S. stocks rallied sharply on Thursday after the House of Representatives passed the controversial bill ...
SANTA CLARA, California: Nvidia Corp, the world's most valuable listed chip company, said that to meet soaring customer demand for ...
BURBANK, California: Over the US Memorial Day weekend, Disney's live-action remake of its 1989 animated classic, "The Little Mermaid," brought ...
NEW YORK CITY, New York: The Nielsen company said that CBS has again claimed the title of most-watched television network ...
NEW YORK, New York - U.S. and global stocks tumbled Wednesday as lawmakers continued to navigate their way through Congress ...
NEW YORK CITY, New York: The Nielsen company said that CBS has again claimed the title of most-watched television network ...
New Delhi [India], June 2 (ANI): Union Home Minister Amit Shah on Friday directed the Ministry of Home Affairs and ...
Jaipur (Rajasthan) [India], June 2 (ANI): In a major administrative reshuffle in Rajasthan, seven Indian Administrative Service (IAS) and 30 ...
Tom Brady insists that he is staying retired this time. "I'm certain I'm not playing again," the seven-time Super Bowl ...
New Delhi [India], June 1 (ANI): Hitting out at Rahul Gandhi over his remarks in the United States on Prime ...
washington - Scientists have expanded the search for technologically advanced extraterrestrial civilizations by monitoring a star-dense region toward the core ...