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Equity Market Review
- Indian markets continued their upward climb run in July as FII inflows remain strong. This was supported by a global equity market rally as other major global equity indices rose at a similar pace in July
- The broad-based rally continued with S&P BSE Sensex & NSE Nifty indices gaining 2.9 per cent /3.0 per cent, respectively during the month
Debt Market Review
- Economic data in the US continued to point to strong growth with preliminary Q1 GDP estimates coming in at 2.4 per cent vs 2.0 per cent in Jan-March quarter
- On the inflation side, US CPI moderated to 3.0 per cent in June vs 4.0 per cent in May
RBI Monetary Policy
- The MPC unanimously decided to keep the policy Repo Rate unchanged at 6.50 per cent
- Consequently, the Standing Deposit Facility (SDF) rate remains unchanged at 6.25 per cent and the Marginal Standing Facility (MSF) rate and Bank Rate at 6.75 per cent, respectively
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