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MARKET COMMENTARY

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Monetary Policy Review

Dec 7, 2016

1:38 pm

Policy Action: Rates unchanged at 6.25%; accommodative stance continues Under the second review of the newly formed Monetary Policy Committee (MPC) of the RBI, the key policy repo rate was unchanged at 6.25%; which was decided unanimously by all the 6 members. The policy tone remains accommodative, with the MPC reiterating the CPI target of…

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It Was the Best of Times

Nov 28, 2016

1:47 pm

Summary This Week: Debt strategy recommendations and interest rate outlook Equity bottom formation process underway, large caps attractive Why the U.S. 1980s scenario is unlikely to play out this time around Global Gold prospects remain bleak Strategy & Technical Outlook Demonetisation impact on GDP analysis Debt It was the best of times to be a…

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Demonetisation Impacts

Nov 16, 2016

2:06 pm

“Give me control of a nation’s money and I care not who makes the laws.” – Amschel Rothschild The demonetisation scheme caught the markets by surprise. The only comparable we can think of in analysing this event is a natural disaster analogy, a temporary but painful contraction in economic activity. First order reactions are invariably…

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Indian and U.S. “Black Swan Events”.

Nov 9, 2016

11:51 am

Snapshot Short term ramifications exist from these dual events, though in the longer term, positive structural changes are underway in the domestic economy. The underlying fundamentals of the Indian economy remain strong particularly in quality long term growth assets. No one expected Mr. Trump to win. We believe Mr. Trump will move to calm markets,…

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