Market Quote : The decrease in CPI inflation to 5.66% in India Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 13 April 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Indian shares experienced a downturn, weighed down by IT stocks following weak quarterly earnings and a cautious outlook from the top IT firm, which flagged apprehensions over deferred spending and uncertainty in its BFSI segment. The decrease in CPI inflation to 5.66% in India, coupled with the moderation of core inflation, supports the decision of the MPC to keep policy rates on hold. While US inflation cooled to 5.0%, anxieties grew globally after the FOMC minutes hinted at a possible "mild recession" due to the impact of banking turmoil.
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