Bank Nifty Index: Sensing a RBI rate cut?
The CNX Bank Index made a huge intraday move -1% to +3.5% (Low of 8642 to High of 9149) today:
Is it indicating an imminent interest rate cut by the Reserve Bank of India (RBI) - or did I miss some major piece of news? And it’s not State Bank of India (SBI) that’s leading the charge - the top 5 Gainers for the day were:
With inflation relatively low, industrial production, credit growth & money supply coming down and the rupee threatening to go further up vs. the dollar, is it time for the RBI (and banks) to lower the cost of money?
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