Indian stocks marginally higher Wednesday morning

ANI
29 Mar 2023, 10:48 GMT+10

New Delhi [India], March 29 (ANI): Indian stocks were marginally higher on Wednesday morning after closing largely steady during the previous session.

At the time of writing this report, Sensex and Nifty were 0.3-0.4 per cent up each.

"In the absence of near-term cues, the market is likely to remain range-bound for some days before taking a new direction," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

"The recent correction has made valuations for the broader market attractive. Nifty Smallcap index and Nifty Midcap index are down around 10% and 6% respectively in the last three months," Vijayakumar added.

For fresh cues, the next RBI monetary policy meeting, scheduled to be held in the first week of April 2023, will be closely watched.

At the latest Monetary Policy Committee (MPC) of the RBI in early February, it decided to raise the repo rate by 25 basis points to 6.5 per cent to manage inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.

According to SBI Research's latest Ecowrap report, the RBI is expected to pause its interest rate hike and the current 6.5 per cent repo rate could be the terminal rate for now.

The report asserted that the RBI has enough reasons to pause the repo rate hike in the April meeting. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.

More Information

null in null

Business

Section

Russia among 4 systemic risk countries for Italian banks

MILAN, Italy: Italian regulators have flagged four non-EU countries—including Russia—as carrying systemic financial risk for domestic...

US debt limit raised, but spending bill fuels fiscal concerns

NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...

Shein hit with 40 million euro fine in France over deceptive discounts

PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...

Meta hires SSI CEO Gross as AI race intensifies among tech giants

PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...

Engine defect prompts Nissan to recall over 443,000 vehicles

FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...

Microsoft trims jobs to manage soaring AI infrastructure costs

REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...

Travel and Tourism

Section