In the previous week that ended February 10, reserves registered the biggest weekly drop in more than 11 months by $8.319 billion to $566.948 billion.. The last time, forex reserves were up was in the week that ended on January 27, 2023.
Bears have held the command of Indian equities for five consecutive days now. From February 17 to date, Sensex has dipped by 1,713.71 points or 2.79% and Nifty 50 has plummeted by 524.6 points or 2.91%.
RBI Governor Shaktikanta Das said 25 basis points rate increase provides space to calibrate future monetary policy actions and stance based on evolving macroeconomic conditions
Markets have tumbled for the fourth day in a row, seeing their biggest losing streak in five months. Sensex has erased its psychological level of 60,000 mark and the Nifty 50 was toppled below 17,600. That being said, Sensex and Nifty 50 closed on their lowest reading since October 19 last year.
In the coming week, global markets are likely to dominate the sentiment in domestic equities. .Both Sensex and Nifty 50 have gained around 0.5% during the week that ended on February 17th. .Adani Group s stocks, SpiceJet, Mahindra CIE will be in focus.