Latest News – Another instance of consensus falling short on predicting actual outcome! Surprising the market participants, the Reserve Bank of India (RBI) unexpectedly kept the interest rates on hold with the benchmark indices settling the week barely higher even as foreign investors poured in over Rs 700 crore, while global markets found succour in US President Donald Trump’s announcement of unveiling soon some “phenomenal” tax reforms.
During the week ended February 10, the S&P BSE Sensex added 0.3% or 94 points to settle at 28240, while Nifty50 gained 0.6% or 52 points to close at 8793.
Midcap and Smallcap stocks outperformed. Nifty Midcap 100 index hit its all-time high of 16227, up 1.2% for the week, while the BSE Midcap index rose 1.3%. The BSE Smallcap index surged 1.4%, ending above its nine-year high.
“Contrary to the expectation of a 25bps rate cut, RBI held the rate steady. Cautiousness crept-in due to uncertainty over Fed rate hike, US policies and rising crude price which could impact inflation and (Read More)