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Morgan Stanley's Upasana Chachra anticipates a likely 25 bps rate cut by the RBI, followed by another in June, contingent on growth trajectory. Escalating global risks, particularly US tariffs, pose downside risks to India's GDP, potentially impacting business confidence and investment. While direct trade exposure appears limited, indirect effects via global slowdown are concerning.
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Vinay Rajani of HDFC Securities suggests caution despite the recent market rebound, noting uncertainty persists. He identifies FMCG and NBFC sectors as showing potential, with FMCG being the stronger of the two. Rajani recommends Britannia and Chambal Fertiliser as specific stock picks for short-term trading, advising strict stop-losses.
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Hindustan Petroleum Corporation Ltd (HPCL) shares surged the most, rising 4% to a day's high of Rs 367.50 on the BSE, followed by Bharat Petroleum Corporation Ltd (BPCL) shares, which climbed 2.7% to Rs 281.80. Meanwhile, Indian Oil Corporation (IOC) shares increased by 2%, reaching Rs 131.
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Cryptocurrencies rebounded on Tuesday, with Bitcoin rising above $79,600 and Ethereum holding above $1,500, as easing U.S. tariff concerns improved market sentiment. Altcoins like Solana, Cardano, and Dogecoin also rallied. Despite the recovery, investor caution lingers, with the Crypto Fear & Greed Index in Extreme Fear. Analysts see key resistance at $84,000 for Bitcoin, with volatility likely to persist.
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Dipan Mehta advises Indian investors to adopt a sell-on-rise strategy amidst global financial uncertainty, drawing parallels to the 2008 crisis. He suggests caution due to potential tariff impacts and a looming global slowdown, advocating for capital protection and increased cash reserves.
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News and Media
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