The Biggest Event of the week was the Monetary Policy Committee (MPC) announcement. For a change, in this MPC Meet the eyes of the markets were not on the direction of the repo rates or the change in stance. As the market broadly expected a no change in either one of those. The RBI maintained the repo rate at 6.5% and its stance of Withdrawal of accommodation remained unchanged.
However, the one thing that was of keen interest was the RBI comments and actions on the system liquidity. The system liquidity which has been tight for quite a few quarters was expecting some sort of a breather. The RBI however gave no clear direction on the same which resulted in some downward pressure on bank nifty right after the end of the RBI’s speech.
The RBI Governor similar to its last speeches stated that their key focus area remains to bring down the inflation to 4%. This re-affirms that CPI remains the key mover of the interest rates. Therefore, the expectations of rate cuts would only be fulfilled when the CPI comes closer to the 4% number on a sustained basis.
The RBI estimates the FY25 GDP growth at 7% and the FY25 CPI estimate at 4.5%.
Scroll down to understand more of such market news and perspectives for the week gone by in easily understandable charts.
LIC 9MFY24 Results; Margins Impresses, Business Growth Steady!
LIC Housing Finance Q3 Results: Strong Margins and Low Provisions Drives PAT!
The chart below shows the Q3FY24 results of Triveni Turbine.
The table below shows a list of 14 stocks that witnessed the most FII inflows in Q3FY24.
Power Grid Corporation reported exceptional Q3FY24 result.
Here’s how Lemon Tree Hotels performed during Q3FY24!
The below chart shows the best and worst performing Nifty 500 stocks during January 2024.
Here’s how Torrent Pharma performed during the quarter ending 30th Dec 2023:
List of companies worth adding in the watchlist due to high PAT growth in Q3FY24.
The accompanying chart showcases the Tata Motors performance for the quarter ending 31st Dec 2024.
Here’s how major indices performed during January 2024!
RBI Keeps Repo Rate Unchanged at 6.5%.
India’s Service Purchasing Manager’s Index (PMI) rose to a 6-month high in January’24 on account of buoyant demand from domestic and export orders.
The table below shows the premium of futures over their spot prices for new monthly expiry. Nifty’s February futures are trading at its 3rd highest premium
NTPC broke out of its daily resistance level of 326 currently. Short covering at 335 Strike drove fresh leg of rally in the stock.
IPCALAB is trading above its previous resistance level of 1,160 on the daily chart. The rise is price was supported by rise in volumes.
METROPOLIS traded above its major resistance of 1,175 on the daily chart. Short covering at 1,800 Strike can drive a fresh leg of rally in the stock.
UPL hits 52 week low- RSI negative divergence signals trouble, accompanied by a pattern of lower lows and lower highs. The bearish trend intensifies with higher volume.
LICI hits all time high- The Relative Strength Index (RSI) is stable at 73 indicating potential strength.
Image Source: Visual Capitalist
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