Indian equity benchmarks opened sharply higher on Monday, with Sensex gaining over 400 points and Nifty rising more than 100 points, tracking Asian markets after softer US jobs data. Gains spanned sectors despite crude prices, bond yields and FII selling concerns
SBI Research said the balance of risks has shifted towards a 25-basis-point RBI rate hike, citing broader inflationary pressures, global risks, liquidity conditions and currency pressures. The RBI's MPC is scheduled to meet from October 5 to 7
SBI Research has recommended two 25-basis-point RBI rate hikes by December, citing elevated global oil and commodity prices and early signs of inflation generalisation. It warned consumer inflation could approach 6.5 per cent or higher if oil remains elevated.
