Primers
From Liquidity Surge to Supply Pressure: Why RBI Turned to OMO Sales
More liquidity does not always mean lower bond yields. Large foreign inflows prompted the RBI to withdraw surplus cash through OMO sales, which also increased the bonds available in the market. With heavy government borrowing and rising macro risks, investors face pressure from both tighter liquidity and higher bond supply. This primer explains the implications […]
RBI’s Monetary Policy Review
On October 07, 2026, RBI’s Monetary Policy Committee (MPC) made following policy decisions: The RBI’s MPC voted unanimously to raise the repo rate by 25 bps to 5.50%. The MPC also decided to change the stance to calibrated tightening with a vote of 4:2. Executive summary of RBI’s press releases/ press conference: Global Economy: • […]
Tussle between Attractive Micros and Challenging Geopolitical Factors
Geopolitical friction dictates short-term volatility, but corporate earnings and reasonable valuations govern long-term equity returns. Despite headwinds from Middle East tensions, high oil prices, a softer currency, and foreign selling, corporate fundamentals remain resilient with broad-based profit beats and upward estimate revisions. With key indices trading at a discount to historical averages and robust domestic […]
RBI’s Monetary Policy Review
On August 05, 2026, RBI’s Monetary Policy Committee (MPC) made following policy decisions: The RBI’s MPC voted unanimously to keep the repo rate unchanged at 5.25%. The MPC also decided to continue with the neutral monetary policy stance. Executive summary of RBI’s press releases/ press conference Global Economy: The West Asia conflict is hurting the […]
RBI’s Monetary Policy Review
On Jun 05, 2026, RBI’s Monetary Policy Committee (MPC) took following policy decisions: The RBI’s MPC voted unanimously to keep the repo rate unchanged at 5.25%. The MPC also decided to continue with the neutral monetary policy stance. Executive summary of RBI’s press releases/ press conference: Global Economy: Global economic outlook remains uncertain due to […]
Copper: The Next Leg of the Commodity Supercycle
Commodity cycles rotate and the baton is passing. Precious Metals rallied first with Gold delivering >60% and Silver >140% returns in 2025, meanwhile, Copper was also up 40% in 2025 but still trades at multi-decade lows vs. both Gold and Silver. That gap matters because Copper’s demand drivers, e.g., Power grids, AI, data centres, EVs, […]
2024 HDFC TRU