Weekly Market Updates

Posted on 20-Mar-2017 Comments  0

Big News

A day after the inflation data and the US Fed announcement, the big question reverted back to the RBI stance. The primary question was once again the same; will the RBI cut repo rates in its April 2017 monetary review. Here are 4 reasons why the RBI will not…

Remember the MPC minutes…

The Feb MPC minutes were quite revealing in that the committee had recommended shift in the monetary policy stance from “Accommodative”to “Neutral”. As the RBI governor put it, it leaves the option open to the RBI to move the rates either way. It indicates that the era of consistent downward trending rates is over in India. Markets need to be mentally prepared for that. A rate cut in April 2017 is almost as good as ruled out, at least as of now!

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Market Capsule

Highlights of the Week (Mar 13 – Mar 17) and Impact Analysis

Major News Item

Impact Analysis

  • BJP sweeps UP and Uttarakhand, forms government in Goa and Manipur

  • The BJP taking nearly 80% of the seats in the UP assembly will be a big boostfor markets and for their RS strength

  • With this emphatic win, the BJP now holds power across almost the entire Northern Hindi Belt

  • Fed delivered a 25 basis points rate with a fairly benign outlook

  • With inflation and wages trending higher, the US Fed hiked the Fed rate by 25 bps along expected lines

  • The Fed has hinted at the likelihood of another 2 rounds of 25 bps hike each during this year taking the Fed rate to 1.50%

  • CPI inflation at 3.65% came in sharply higher than anticipated

  • CPI inflation was a sharp spurt from 3.17% in Jan 2017 on the back of remonetization induced price increases

  • While pulses and vegetables stayed negative; cereals, fruits and milk were up sharply leading to higher food inflation

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