What will Hit First: The All-Time High or the Monsoon?

Indian benchmark indices NSE Nifty 50 and S&P BSE Sensex continued their upward movement at snail speed during the week, thanks to improving global cues and RBI MPC outcome. The market participants were keenly waiting to hear the commentary from RBI Governor Shaktikanta Das as status-quo was on the cards. The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on June 8 kept the policy repo rate unchanged at 6.5 per cent in a unanimous decision while retaining the withdrawal-of-accommodation stance.