Tuesday, 23 June 2015

Reserve Bank of India cuts lift business sentiment for 23 June 2015

 Rate cuts from the Reserve Bank of India gave businesses a nice boost in sentiment this month.

MNI, a unit of Deutsche Borse Group, said its monthly index of business confidence in India climbed 7.7 per cent in June to 67.1, offering "a tentative sign that the downturn in business sentiment may have bottomed."

The results were considerably more optimistic than the May figures, which showed business sentiment was actually weaker last month than when when business-friendly Narendra Modi was elected at Prime Minister a year earlier.

MNI attributed the boost to an early June interest rate cut from the RBI — the third this year.

"Previous rate cuts have provided short-term boosts, but the magnitude of this month's increase [in confidence] suggests that the aggregate easing to date is starting to have a positive impact. Firms reported increased access to credit and many reported that they were benefiting from lower interest rate costs," MNI said.

The component tracking export orders jumped 13.2 per cent, while production rose 6.3 per cent and new orders, a forward-looking component, picked up 8.2 per cent. MNI said this is all good news for employment:

More companies thought the size of their workforce was insufficient for their requirements and they were also more optimistic about hiring in the coming three months.

MNI chief economist Philip Uglow said the weakening rupee was also playing a role to help exporters. More gains ahead look probable.

It would be unwise to read too much into one month's data but the brighter tone of the June survey provides an early signal that the trend decline in sentiment since peaking in September last year may have run its course.

About

Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

0 comments:

Dear Friends,
Sorry to say that you are suffered for the chart initially available, now they are restored and you can very well see the chart on money99.org similar to money99.in.
And all of you are intimated that we are going to develop more and more in money99.org to facilitate your dreamy demands.

Latest updates tips : Follow

© Copyright 2015 Money99. Designed by Parag Patil