We believe that the large part of the RBI rate hike cycle is behind us, unless inflation flares up unexpectedly.
We bring you key takeaways from this sector update undertaken by analysts at IIFL Capital Services.
The RBI hiked the rates by 25 bps to 6.50%. That makes it a full 250 bps higher since May 2022.
On the MCX, silver March futures were selling at Rs67,324 per kilogram, down Rs75.
The U.S. dollar index held steady at 103.31 against a basket of currencies after falling by 0.3% the previous day.
RBI has adopted a well-balanced approach between handling inflation and economic growth.
Going forward, the central bank is likely to become more data dependent, and this does not rule out another rate hike in the upcoming policy.
MG Motor's sales volume fell 12.55% to 425 units.
The company filed DRHP in August 2022 to raise funds through IPO.
Crude oil pipeline from Iraq to the Ceyhan port in Turkey shut down due to the earthquake.
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