Both the Nifty and Sensex seem to have performed quite well in the last week with most of the stocks performing well. European and global cues are also suggesting stabilization with global markets in a bullish mood this week. Discussed below are some of the macro and policy developments this week which could play a decider in terms of policies by the RBI in their next review of the Credit Policy.
Draft NTP which was the much awaited draft of the Telecom policy has now turned out to be an anti climax for many. The new draft seems to be high on intent but low on the deadlines as well as details.
On the other hand this week the Union Cabinet has approved the ordinance on the Digitization of the cable networks. With this in place the local television companies majorly referred to as the cable operators would now have to report the exact subscribers and cannot escape from hiding the actual subscriber list.
The August IIP numbers were also released which seems to be disappointing at 4.1% whereas, the estimates were closer to 5% as per analysts. Experts feel that this may play a major role in pausing the RBI’s move of hiking the interest rates. The inflation on the other hand was up in the 9.72% for the month of September as against 9.78% last month. It doesn’t seem to be a decent improvement and could leave RBI for playing with the interest rates at the Credit Policy on October 25.
Bell the Bull says: With the markets improving this week and some economic developments in place it is to be seen further how RBI takes the next steps at their credit policyGoogle+