Published on Tue, Mar 16, 2010 at 09:32 | Source : CNBC-TV18
Updated at Tue, Mar 16, 2010 at 10:30
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Street expects tightening post inflation scare
Lot of the economies for India have been pretty vocal that given the kind of index of industrial production (IIP) data and inflation, there will be scare of rate hike maybe this week or in the credit policy.
Lot of the economies for India have been pretty vocal that given the kind of index of industrial production (IIP) data and inflation, there will be scare of rate hike maybe this week or in the credit policy. CNBC-TV18's Nimesh Shah reports.
Below is a verbatim transcript of his comments on CNBC-TV18. Also watch the accompanying video.
Most of the talk in the dealing room is a fact that in India and China the rate hike is very much imminent. In China there are reports suggesting that the rate hike may happen this week. Lot of the economies for India as well have been pretty vocal that given the kind of index of industrial production (IIP) data and inflation, a scare of rate hike maybe this week or in the credit policy.
Hence, the bank stocks are a bit under pressure in yesterday's trade as well. The only sector which stood out was technology and that was largely on back of some bit of buying coming in from the long only funds. However, there are no big flows coming in from the domestic institutional investors (DIIs), which is a bit of a surprise maybe because of the year end it is a bit of slowdown from their end. It looks like another flattish kind of an opening with some bit of activity in terms of fund raising and in terms of selective stock specific action in the midcap and smallcap space.
