Technical analysts noted a strong bounceback in Nifty, predicting further upward momentum. Stocks such as Vedanta and Hindustan Copper formed bullish setups. Investors are advised to focus on IT and FMCG sectors, while considering partial profits in pharma. Positive trends were also seen in metal and banking sectors.
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,