The market consolidated with some profit-booking as the RBI delivered on a rate cut. There was some “good news” as the US pulled back from a threat of tariff hikes targeting Mexico. But, global news remained gloomy. Optimists hope this will induce the Federal Reserve to cut rates, or even opt for another round of quantitative easing. On the domestic front, the next major trigger may be the Budget.
The RBI cut rates for the third time in a row by 25 basis points and it promised an accommodative policy. However, the optimists were leveraged in hopes of a cut of