“In terms of India, any aggressive US Fed action will have direct and indirect consequences for our markets. The first impact is on the currency, and this is important for RBI’s main objective of maintaining macro stability. The Fed hike cycle has been ahead of RBI cycle and the US rates have gone up much faster than Indian ones. As such there would be continued depreciative pressure on the Indian rupee in case of dollar strength emanating from Fed policy.”
Sensex, Nifty’s explosive rally pushes market to pre-Middle East war levels. How long will they take to scale fresh peaks?
In a remarkable turn of events, the Indian stock market has showcased impressive upward movement this month, with the Sensex soaring to 82,000, indicating a