According to Soumya Kanti Ghosh, chief economic advisor of the State Bank of India group, a 50 bps rate cut is a possibility, but 25 bps is more likely.
'While collections under the Income Disclosure Scheme explain it partly, indirect tax numbers not showing any effect of the withdrawal of high denomination currency notes was puzzling.'
Much of the Q3 data will simply not be available for the CSO to factor in its calculation.
'It appears the growth rate could be around six per cent'.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
The Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced. In its August policy, the central bank had estimated inflation to be at 5.7 per cent due to supply side constraints, high crude oil and raw materials cost.
The year-to-date returns are 13.33 per cent for Indian funds, compared to 11.66 per cent for emerging market funds overall.
The broader NSE Nifty gained 22 points to 10,480.60
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
PMI increased from 52.0 in August to 56.8 in September -- highest since January 2012.
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