According to NHRDF data, arrivals of onion at Bangalore wholesale market has increased by 50 per cent to 76,266 quintals today from the last week's level.
Samiran Chakrabarty of Standard Chartered Bank, says the would help reduce inflation going forward. It is probably a good thing to target inflation as long as we are targeting the right kind of inflation.
John Woods of Citi Private Bank, sees limited downside for Asian emerging markets (EMs) and expects some sort of recovery from Q3 onwards. North Asian markets like Taiwan, Hong Kong, Singapore as a function of exports and uptick of growth in United States will see bottoming out first.
The US jobs data was better and the US bond yields too softened by about 5 basis points. There is a possibility that the Fed will talk in dovish tones in the upcoming Fed meeting and some of the recent damage might get unwound. Markets could see a temporary rally said CNBC-TV18's, managing editor, Udayan Mukherjee.
"The currency maybe wobbly, but unfortunately we all know that the currency at least in the case of India has really not been helpful in propelling the export segment in any way," Pan said in an interview to CNBC-TV18.
Pankaj Vaish of Citi said he is most concerned about rupee. The argument about the dollar strength also seems overdone because the dollar hasn't really moved that much in May. He said the dramatic fall against the dollar cannot be blamed onto excessive buying of gold alone.
If we want high growth we have got to get inflation down. I feel that the RBI should be held accountable for delivering on low and stable inflation and they need to do more, says Ajay Shah of NIPFP.
The market would be keenly watching elections for further direction, says Amar Ambani of IIFL. He sees a rate cut of 25bps in June however adds that the central bank may maintain a status quo for rest for the year.
Sharp decline in prices of gold and crude oil, coupled with softening inflation, augur well for the economy as it will help curb the Current Account Deficit, according to economists.
Sandip Sabharwal of Prabhudas Lilladher says Index of Industrial Production (IIP) show that the growth is bottoming out and going forward the WPI and CPI will also start moderating. So, he believes on March 19, Reserve Bank of India will cut by 25 basis points.