The Monetary Policy Committee (MPC) came out with their bi-monthly policy statement today. Some of the key announcements are as follows: The MPC members unanimously voted for keeping the policy Repo Rate unchanged at 4.0%
Key index Nifty50 bounced back by 4% in March 2022 following a 3% decline in February despite geo-political pressures and continued FII selling. The BSE Mid-cap index also recovered 3.2% while BSE Small-cap indices bounced back by 5.8%, outperforming the Nifty.
The volatility in asset classes continued as geopolitical tensions between Russia and Ukraine escalated during the month. Commodity prices remained elevated and only softened a bit towards the latter half of the month with updates on Russia pulling back troops from Kyiv. Crude prices traded above the psychological USD 100/bbl mark for most of the month while briefly breaching USD 130/bbl as concerns built around the embargo on Russian crude.
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