Business
RBI’s MPC is expected to begin raising key lending rate from April
The RBI’s MPC is expected to begin raising the key lending rate from its next review meeting in April, Crisil Research said.
Notably, the Reserve Bank of India’s Monetary Policy Committee (MPC) on February 10, retained key short-term lending rates during the sixth and final monetary policy review of FY22.
Besides, the growth-oriented accommodative stance was also retained to give a push to economic activity.
The MPC of the central bank maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent.
Likewise, the reverse repo rate was kept unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the ‘Bank Rate’ at 4.25 per cent.
“Risks have increased from the external front. First, Brent crude prices have jumped from $74.3 per barrel on average in December 2021 to over $90 now,” it said.
Moreover, Crisil Research expects Brent crude prices to average $80-85 in 2022, the highest since 2015.
“Elevated crude oil prices have an adverse impact on India’s macros such as the current account deficit, inflation, GDP growth, and in some cases, the fiscal deficit.”
In the past, the RBI has raised rates when crude oil prices rose, such as in 2010, 2011 and 2018.
“Second, the US Federal Reserve is expected to raise its policy rate at the fastest pace seen after the ‘Global Financial Crisis’.”
“The Fed will have taken seven years after the ‘Global Financial Crisis’ to raise its funds rate for the first time, and two years after Covid-19 pandemic began. The projected number of hikes in 2022 are also much higher than seen at the peak of Fed tightening after the aGlobal Financial Crisis’.”
Interestingly, peak tightening in 2018 had coincided with repo rate hikes by the RBI.
Furthermore, it cited that primary target of RBI, CPI inflation, remains within its comfort band of 2-6 per cent.
“However, it faces upside risks from rising crude oil prices. This is expected to be partially offset by lower excise duties on fuel compared with last year.”
“Meanwhile, we believe firms facing sustained cost pressure would pass it on to a great extent to consumers next fiscal as demand strengthens.”
As per Crisil Research, a modest reduction is expected in CPI inflation from 5.5 per cent this fiscal to 5.2 per cent in the next.
“Summing up, we expect the MPC to begin raising the repo rate from its next review meeting in April.”
“Following that, we expect two more hikes of 25 bps each next fiscal, which will take repo rate to 4.75 per cent by March 2023.”
Business
Sensex May Touch 1.15 Lakh And Nifty 43,876 By FY28 In Bull Case, Says Ventura Stock Broking Report

Mumbai: In a bull case scenario, Sensex is projected to reach 115,836 and Nifty is likely touch 43,876 by the financial year 2028 (FY28), a report said on Friday.
However, in a bear case scenario, Sensex is projected to reach 1,04,804 and Nifty at 39,697 by FY28, Ventura, a stock broking platform, said in its recent projection.
Nifty is expected to oscillate within a well-defined price-to-earnings (PE) band in these three years, with projected robust earnings growth with estimated FY28 earnings per share compound annual growth rate (EPS CAGR) of 12-14 per cent.
“In the last 10 years, the Indian economy has demonstrated resilience and clocked the highest GDP growth as a large economy despite global headwinds of NBFC crisis, Covid 19, Russia-Ukraine war and the recent uncertainty on US President Donald Trump tariff,” said Vinit Bolinjkar, Head of Research, Ventura.
The risk mitigation influencers will outweigh the current challenges, which will usher Indian GDP growth to 7.3 per cent by FY30(E), he added.
By FY28, the Indian index will be at a PE level of 21 times in the bull case and 19 times in the bear case with an estimated earnings-per-share (EPS) of 5,516 for Sensex and 2,089 for Nifty 50, the report stated.
Over the past ten years, India has demonstrated extraordinary resilience by navigating a series of unprecedented disruptions without compromising its growth trajectory.
From the “Fragile Five” designation to demonetisation, GST implementation, a crippling NBFC crisis, and the dual shock of COVID-19 waves, India has withstood and adapted to adversity, the report highlighted.
According to the report, even global headwinds like the Russia-Ukraine war and Trump-era tariffs have failed to derail its momentum, underlining the robustness of the Indian economy.
As of the mid-season point for Q1 FY26 earnings, 159 companies have reported Q1 FY26 results, revealing broad-based strength across key sectors.
Engineering/manufacturing and services sectors have led the pack, while consumption, commodities, and pharma show steady performance, the report stated.
Business
Sensex – Nifty Open Lower Amid Weak FII Sentiment, Midcap & Smallcap Stocks Lend Market Support

Key Highlights:
– Sensex fell 171 pts, Nifty down 35 pts; midcaps, smallcaps held strong.
– FIIs sold Rs 3,694 crore worth of stocks; DIIs bought Rs 2,820 crore.
– Nifty’s bearish engulfing pattern suggests continued caution; 25,000 key support.
Mumbai: Indian equity benchmarks Sensex and Nifty began Friday’s session in the red, weighed down by selling pressure in large-cap stocks. At 9:25 am, the Sensex declined by 171 points or 0.21 percent to trade at 82,087, while the Nifty dropped 35 points or 0.14 percent to 25,075.
Heavyweights Drag, Broader Market Holds
Major drag on the indices came from key constituents such as Axis Bank, Bharti Airtel, Kotak Mahindra Bank, and HDFC Bank. Financial stocks, FMCG, and private banking segments were under pressure. However, midcap and smallcap segments outperformed, providing resilience to the overall market.
Gainers on the Sensex included M&M, Tata Steel, Power Grid, L&T, Infosys, and Maruti Suzuki, reflecting strength in sectors like auto, metals, and infra.
Sectoral Picture Mixed
On the sectoral front, gains were recorded in auto, IT, PSU banks, metals, realty, energy, media, infrastructure, and commodities. Meanwhile, financial services, FMCG, and private banking faced losses.
Technical indicators showed bearish signals, with Nifty completing a bearish engulfing candle on Thursday. Analysts highlight 25,000 as a key support and 25,340 as a vital resistance level.
FIIs Remain Net Sellers
Foreign institutional investors (FIIs) continued their selling trend, offloading equities worth Rs 3,694 crore on July 17 — marking the second consecutive session of net selling. Domestic institutional investors (DIIs), however, remained net buyers, purchasing Rs 2,820 crore worth of shares for the ninth straight session.
According to Dr. VK Vijayakumar of Geojit Financial Services, FIIs have shown a clear pattern of selling in July after buying in the previous three months. Without positive triggers, the downtrend could persist.
Global Cues Offer Some Relief
Asian markets traded mostly higher on Friday, with Shanghai, Hong Kong, Bangkok, and Jakarta in the green, although Tokyo and Seoul lagged. The US markets ended positively on Thursday, driven by upbeat investor sentiment.
Business
Indian Equity Indices Open Flat As Markets Await Fresh Triggers To Break Out Of Consolidation Phase

Mumbai: The Indian equity indices opened flat on Thursday, as markets looked for new triggers to break out of the consolidation range.
At 9.2 am, c was down 15 points at 82,619 and Nifty was down 2 points at 25,210. Buying was seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 123 points or 0.18 per cent at 59,741 and Nifty smallcap 100 index was up 70 points or 0.37 per cent at 19,210.
On the sectoral front, auto, pharma, FMCG, metal, realty, energy, infra and PSE were major gainers, while IT, PSU bank, financial services and media were major losers.
In the Sensex pack, Sun Pharma, M&M, Trent, Kotak Mahindra, Tata Motors, NTPC, BEL, Titan and Power Grid were major gainers. Tech Mahindra, ICICI Bank, Eternal, Axis Bank, Infosys and HUL were major losers.
According to analysts, an India-US interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range.
“One positive and surprise factor that can trigger a rally is a tariff rate much below 20 per cent, say 15 per cent, which the market has not discounted. So, watch out for developments on the trade and tariff front,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Most Asian stocks traded in a flat-to-low range. Tokyo, Shanghai, Bangkok and Jakarta were trading in the green while Hong Kong and Seoul were in the red.
The US market closed in the green on Wednesday due to positive market sentiment.
On the institutional front, foreign institutional investors (FIIs) continued to reduce exposure in India, selling equities worth Rs 1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) remained consistent buyers for the 8th straight session, infusing Rs 1,223 crore, lending crucial support to the market amid global uncertainties.
The broader trend remains optimistic as long as key support levels are respected, said analysts.
-
Crime3 years ago
Class 10 student jumps to death in Jaipur
-
Maharashtra10 months ago
Mumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra9 months ago
Mumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra10 months ago
False photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
Crime9 months ago
Baba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report
-
National News10 months ago
Ministry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Maharashtra8 months ago
Maharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News10 months ago
J&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface