And though markets are certainly celebrating, from where I sit, a lot of the good news that this rate cut could cement, i.e. the much hoped for soft landing, is already baked into current prices and valuations. So, I would not be at all surprised to see this burst of enthusiasm fade fairly quickly.
Vedanta shares slide 10% amid global selloff, fears of growth in metals sector
As exporters from countries such as Vietnam, South Korea, and Japan shift their focus to alternative markets like India and the Middle East, Indian manufacturers