US Fed may hike rate by 25 bps in July: Bharat Iyer

Bharat Iyer of JPMorgan said, "Indian largecap indices declined marginally last week on the back of key sources of disappointment. The first was no incremental boost from monetary policy announcements by the US Fed and the BoJ. Our houseview is of a 25 bps rate hike by the US Fed in July.""The second drag was the disappointing quarterly earnings reports by some large cap companies. Also, there has not been any positive surprise from the parliamentary proceedings for Indian equity investors yet. The Finance Bill and the Bankruptcy Code are scheduled to be discussed in the current week," he added.