Stock Market Today: RBI Maintains Rates, Nifty Steady at 24,600; Inflation at 6-Year Low
RBI maintains rates, trims FY26 GDP outlook to 6.5%. Nifty steady at 24,600; inflation at 2.1%. Read the latest market news.
RBI Monetary Policy: Growth Outlook Strong, Inflation Forecast Revised Lower
The Reserve Bank of India’s Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, on Wednesday kept the repo rate steady at 5.5%, maintaining a neutral stance amid global trade concerns.
The move comes against the backdrop of the U.S. imposing a 25% tariff on Indian exports, raising fears of a slowdown in international trade. Markets responded cautiously, with the Nifty holding at 24,600 and the Sensex up by 100 points.
📉 Inflation at Record Low
India’s retail inflation eased to a six-year low of 2.1% in June, giving the RBI space to revise its FY26 CPI forecast to 3.7% from 4%. However, the central bank trimmed its GDP growth projection for FY26 to 6.5% from 6.7%, citing uneven economic momentum despite strong domestic demand.
💬 Governor’s Outlook
Governor Malhotra expressed optimism about India’s growth prospects but warned of risks ahead. “While domestic fundamentals remain robust, uncertainties in global trade and uneven expansion across sectors demand vigilance,” he noted.
🏦 Policy Signals
The RBI left the Cash Reserve Ratio (CRR) unchanged and emphasized assessing how previous rate cuts have filtered through to the economy. Analysts view this as a wait-and-watch approach, with markets now turning their attention to upcoming U.S. economic data, foreign institutional investor (FII) flows, and the impact of tariffs on exports.
📊 Market Reaction
Experts believe the policy decision was largely a non-event for equities, but the focus will remain on global cues. Santosh Meena, Head of Research at Swastika Investmart, said the RBI’s stance “signals caution without dampening domestic growth optimism.”
