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RBI MPC meeting: In the short term, Bank Nifty may encounter volatility; a breakout above 47,200 could propel the index towards 48,000. On the downside, support is positioned at 46,800.
The decline in oil prices is expected to provide a boost to the Indian equity market, especially the sectors that use crude oil as raw material. Conversely, some sectors can plummet, say analysts. A look at the sectors that would be impacted the most.
The Secretary to the Ogun State Government, Tokunbo Talabi, described to Okubadejo as an “embodiment of consultation and a seasoned veteran”.
The quick momentum build-up, long build-up according to derivatives data, and lack of significant negative news flows all point to the bullish momentum, likely continuing in the future. The markets appear to have factored in inflationary worries and rate increases for the foreseeable future.
Markets will be influenced by global sentiments, and concerns with regard to rising crude price and weakening Rupee when they reopen next week. All in all, we will witness heightened volatility in coming weeks, so investors need to be prepared for the same.