Till December 31, the RBI had planned to suck out Rs 7.5 trillion of liquidity through a 14-day VRRR auction. But the banks offered only Rs 2.67 trillion
The market had already run up substantially and so is likely to consolidate, making investors selective. However, the underlying current still remains bullish and money will continue to flow in, said Nirmal Jain of IIFL.
PH Ravikumar, Non-Executive Chairman, SKS Microfinance says, FY16 could see the industry growing by 35-50 percent but post that in FY17, there would be some slowdown.
Manish Sonthalia, Motilal Oswal AMC is bullish on the market going forward. He thinks Nifty could scale to 7000 by March 2014.
Siddhartha Sanyal, Chief India Economist at Barclays believes that there is a strong case for RBI to hold rates in the upcoming December monetary policy because he sees inflation softening a bit going forward.
The much awaited Reserve Bank of India (RBI) policy will be announced today. A 25 basis points repo rate cut is unanimously expected by most market experts and economists.
Sudarshan Sukhani, s2analytics.com says although the trend for the market is still up, it is on the verge of entering choppy territory. “I suspect that till the Reserve Bank of India (RBI) policy, we are going to see very choppy conditions,†he adds