ইন্ডিয়ার কেন্দ্রীয় ব্যাংক প্রায় চার বছর পর প্রথমবার বয়দান বাড়িয়ে তুলব কারণ মulators্ফীতি বাড়ছে এবং rupia রেকর্ড নিচে। বাজারের জন্য, নীতি সভার গুরুত্ব বয়দান কলের থেকে অনেক বেশি। ফোকাস হবে RBI কী করবে অতিরিক্ত নকদি ব drained বanking system থেকে। এর[currently] gầnের প্রোগ্রামের ফলে overseas Indians থেকে foreign-currency deposits আনে larger-than-expected inflows। নকদির অতিরিক্ততা overnight borrowing cost below the policy rate, making financial conditions looser than intended। 投資者 will also be watching the RBI’s commentary on the rupee, especially given the recent record weekly drop in foreign-exchange reserves। Meanwhile, swap traders have even priced in another hike at the RBI’s next meeting, as we write below। In global markets, Asian shares are holding near a record after optimism over the earnings outlook propelled Wall Street benchmarks to fresh all-time highs on Tuesday। That could offer an early lift to the Nifty, which has risen in each of the past two sessions। In today’s newsletter, we also write about: India’s swap market has fully priced in rate hikes at the RBI’s meetings today and in December as inflation is expected to climb closer to the upper end of the RBI’s 2%-6% tolerance band। For Wednesday’s decision, the swap curve implies overnight borrowing costs will rise by more than 25 basis points। That suggests traders see the RBI stepping up its liquidity withdrawal alongside a rate increase to strengthen monetary-policy transmission। The pricing may also reflect a smaller chance that the RBI delivers a larger rate increase rather than a token quarter-percentage-point hike। A hike would put India alongside Asian peers that have already begun tightening and mark the first such move under Governor Sanjay Malhotra, who took office in December 2024 and oversaw a series of cuts last year। Malhotra will announce the decision at 10 am in Mumbai। We’ll be covering the RBI decision closely。Catch our live blog on our India homepage। Pricey raw materials may squeeze staples firms’ margins: Dolat Consumer staples demand is largely holding up even after companies raised prices earlier this year, according to Dolat Capital। The bigger concern is costs, with raw-material inflation worsening and agricultural commodities also getting more expensive। The brokerage expects this to squeeze margins and weigh on earnings across the sector, even as sales growth remains healthy। The key things to watch now are festive-season demand, whether companies push through another round of price increases, and how volumes hold up once those hikes take effect。Top picks: Marico and Nestle。Strong refining margins to boost oil & gas firms in 2Q: Yes Securities expects refiners to have another strong quarter as tight global fuel supplies keep margins elevated。Strong profitability in diesel, gasoline and jet fuel should be enough to offset the impact of government levies and price caps, the brokerage says。MRPL and Chennai Petroleum remain its preferred plays。Oil marketing companies should also report a solid quarter, Yes says。Refinery output remains steady, exports have rebounded sharply from a low base, and losses on LPG and retail fuel sales have eased。So while refining is doing most of the heavy lifting, improving conditions in the fuel-marketing business should provide an additional boost to earnings。Cement firms struggling to raise prices: ICICI Securities The outlook for the cement sector remains uneven, according to ICICI Securities। Demand was healthy in the second quarter, but companies...
উৎস: Bloomberg Markets · সারাংশ: HeadlinesBriefing