The correction seen by domestic equities in seven consecutive sessions indicates that investors have factored in a 50-basis-point hike in the repo rate by the RBI.
The Indian rupee weakened to a historic low of 87.35 against the U.S. dollar, influenced by expectations of an impending rate cut by the Reserve
The customs duty had about 550 crore estimated impact when the announcements came in July and it is by and large played out to that
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