Nifty has almost tested the new milestone of 20,000 and gained over 7% in the last four weeks, which has pushed the oscillators into the overbought zone. The sharp dip in IT has derailed its momentum, and we could see a breather in auto and FMCG.
Banks unlikely to reduce deposit rates despite RBI easing
Following the latest repo rate decrease, bankers foresee only slight adjustments to deposit rates. The landscape, characterized by sluggish savings yields and elevated credit-deposit ratios,