The Reserve Bank of India’s Monetary Policy Committee (MPC) is likely to hold interest rates steady in its June policy review with a unanimous vote to maintain the status quo, given that the cumulative rate hikes since last May appear sufficient to tackle inflation. However, there are two caveats: Truant monsoons should not stoke inflation in farm-gate prices, and crude oil should not rally. Additionally, analysts have suggested that the unchanged stance reflects the panel’s flexible approach towards rates, should inflation unexpectedly accelerate.RBI may hold rates again in June; monsoon, crude key
The Reserve Bank of India’s Monetary Policy Committee (MPC) is likely to hold interest rates steady in its June policy review with a unanimous vote to maintain the status quo, given that the cumulative rate hikes since last May appear sufficient to tackle inflation. However, there are two caveats: Truant monsoons should not stoke inflation in farm-gate prices, and crude oil should not rally. Additionally, analysts have suggested that the unchanged stance reflects the panel’s flexible approach towards rates, should inflation unexpectedly accelerate.
NTPC, Adani Ports, Tata Motors, Bajaj Auto and Asian Paints were among the top gainers on the Nifty, while losers included Divis Labs, Eicher Motors, HUL, Dr Reddy’s Laboratories and JSW Steel
The stock of Shakti Pumps Ltd was trading 4.88 percent higher at Rs 457.85, on BSE at 9:40 AM. The stock has given a return of 13.34 percent since the start of this year outperforming the Nifty50 benchmark index which has lost nearly 3 percent of its value since the start of this year. Whereas the stock has underperformed the benchmark index Nifty50 over the last five years by giving a return of negative 38.26 percent.
HCL Technologies, Infosys, IndusInd Bank, SBI Life Insurance and Wipro were among the top Nifty losers. BPCL, Divis Laboratories, Bajaj Auto, Axis Bank and MM gained the most
Among sectors, selling was seen in the FMCG, power and infra, while pharma and realty were up a percent each. Information technology, PSU bank and metal each gained 0.5 percent
