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Below View On By RBI policy By Ms Palka Arora Chopra, Director, Master Capital Services

The Monetary Policy Committee of the Reserve Bank of India decided to maintain the status quo. The Reserve Bank of India's policy announcement is largely based on market expectations and will not have a major impact on the domestic market. Interest rate-sensitive sectors such as autos and real estate will benefit as consumers will now spend more taking into account borrowing cost forecasts. RBI has revised its FY2024 growth forecast from 6.5% cent to 7% which will boost investor confidence.
Nifty 50 hits the 21,000 mark for the first time just around the RBI outcome announcement. Indian market movements ahead will depend upon a combination of International macros and domestic macros and earnings.

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