- Economic statistics announced by America are favorable for international markets.
- The RBI announced that they maintain the stance in future even they hike bank rates now and investors are positive to buy banking, fixed property and vehicle sectorial stocks.
- Investors are positive in buying small and mid-cap shares since RBI relaxing the conditions over Non-Performing Assets in monetary committee.
- Another reason for markets positive is investors took a short position before RBI Monetary. Policy and covered their positions after as well.
- Projected Economic growth rate at 7.4% is continuing as expected.
Commodity and Forex Markets
- Gold and Silver were marginally higher, while the raw chamber also rose slightly.
- The rupee weakened by 0.44 paise against the US dollar.