Lack of triggers to keep markets range bound: UTI Mutual Fund

Lack of any new triggers in the coming weeks for the markets is going to keep them range bound, says Amandeep Chopra, Fixed Income Head, UTI Mutual Fund. The only expected trigger is the open market operations (OMO) that the Reserve Bank of India will conduct soon. Till then Chopra expects markets to consolidate.July's comsumer price index (CPI) was at 6.07 percent, a little above the 2-6 percent threshold agreed by the RBI and the government in 2015 and way above the RBI's target of 5 percent for 2017.Chopra says market expected below 6 percent CPI and so, has clearly shown dissapointment. But, above normal monsoons will soon bring the food component of CPI down.Watch video for more...