While stocks pared some of their early morning gains, the sentiment was cheerful after the Reserve Bank of India (RBI) left key interest rates unchanged. Importantly, the RBI's higher growth forecast of 7% for FY24, above consensus expectations, was cheered by investors.
Investors, both local and foreign, have been buyers of equities, reassured by the BJP's win in key state elections in the Hindi heartland, encouraging Q2FY24 GDP data and strong corporate profits.
Expectations that the US Federal Reserve might not raise interest rates further, and the relatively stable prices of Brent crude at below $76 per barrel, have added to the bullish sentiment.
Esta historia es de la edición December 09, 2023 de Financial Express Mumbai.
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