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RBI move on repo rate on expected lines: Market expert
RBI kept the repo rate and CRR unchanged at 6.50% & 4.0% respectively along with retaining GDP forecast for FY17 at 7.6%. Move taken by RBI is very much in the expected line and this is the third monetary policy when rates remained unchanged. Moving further, we remained also focused on the RBI governor comment on GST, Economic growth, liquidity along with soaring inflation. RBI Governor is very op
RBI kept the repo rate and CRR unchanged at 6.50% & 4.0% respectively along with retaining GDP forecast for FY17 at 7.6%. Move taken by RBI is very much in the expected line and this is the third monetary policy when rates remained unchanged.
Moving further, we remained also focused on the RBI governor comment on GST, Economic growth, liquidity along with soaring inflation. RBI Governor is very optimistic on GST but as per him timely implementation could be a challenge.
Additionally, along with liquidity issue in the system, Mr. Raghuram Rajan also sees upside risk to achieve the FY17 March inflation target of 5%. Hence, if we look on the overall picture, given scenario doesn’t augur well for the market. Keeping all the fact in view, we foresee near term pressure in the market. We believe interest rate sensitive stocks like Banking, Reality and Auto industry to witness some pressure going ahead.”
By Abnish Kumar Sudhanshu, (Director & Research Head, Amrapali Aadya Trading & Investments Pvt Ltd).
