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 San Jose Sun 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 San Jose Sun.
More InformationFreddie Freeman had one of the best seasons of his accomplished career with the Los Angeles Dodgers in 2022 and ...
Chicago White Sox right-hander Lucas Giolito didn't hesitate to admit what torpedoed his horrendous start Thursday in Detroit. "Nothing super ...
Bryce Elder has been a pleasant surprise for the Atlanta Braves, who continue their three-game series against the host Oakland ...
Ryan Noda highlighted a four-run fifth inning with a three-run homer as the Oakland Athletics ended an 11-game losing streak, ...
Aaron Judge hit two home runs, giving him an American League-leading 17 this season, as the New York Yankees defeated ...
Freddie Freeman extended his hitting streak to 18 games, J.D. Martinez hit a three-run home run and the Los Angeles ...
BEIJING, China: China will put into commercial operation its first large passenger airliner, in a bid to challenge western plane ...
FRANKFURT, Germany - With U.S. and UK. markets closed for public holidays, it was left to European and broader global ...
NEW YORK CITY, New York: The Verge has reported that Verizon Communications met with more than 6,000 customer service employees ...
WASHINGTON D.C.: In response to a safety warning issued by the US National Highway Traffic Safety Administration, Vietnamese electric vehicle ...
NEW YORK CITY, New York: Electric truck manufacturer Nikola Corp said that Nasdaq has delivered a delisting notice for not ...
MINNEAPOLIS, Minnesota: Reuters reported that after facing a backlash from customers, Target is pulling some products from its Pride Collection ...