IndusInd Bank (+2.09%) led the gainers on the nifty index today.
Analysts of IIFL Securities believe sector valuations have little room for upside as despite a deteriorated growth outlook, Nifty IT Index has performed in line with broader markets YTD.
RBI cut its FY24 inflation forecast for the second time in two MPC meetings, and marginally front ended GDP growth during FY24 while maintaining full yr. number.
Asian peers edge up over Fed rate pause bets.
According to its investor presentation, individual house loans have increased over the past five years at a compound annual rate of 16%.
The markets touched their day’s low in the intraday trading session.
The window for policy pivot to rate cuts could open-up in 1H CY2024, if inflation trajectory warrants given that growth remains robust.
The bank aims to raise up to Rs.750 crore through the issuance of these bonds in one or multiple tranches
The lowering of the inflation projection for FY24 to 5.1% signals towards a higher GDP growth and credit offtake can be expected to be higher.
On the sectoral front, Nifty Media, IT, Auto, and FMCG stocks are weighing down the charts.