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Thursday, 5 March 2015
Latest News Tips on Indian Equity Market
Lower lending rates hold the key to India’s recovery. RBI Governor Raghuram Rajan’s 25 bps cut in repo rate is a welcome move. We had expected this on April 7 with finance minister Arun Jaitley expectedly sticking to the path of fiscal consolidation.
While lower rates are welcome, we do not, as monetary conservatives, favour inter-meeting actions twice over unless there is a forex crisis. Looking ahead, we still expect RBI to cut 25 basis points in June. This should pull down the 10-year yield to 7% by March 2016 with net central borrowing at Rs 4,86,500 crore, marginally lower than last year’s.
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