Reserve Bank of India (RBI) hiked the repo and reverse repo rates by 25 basis points (BPS) each to 5.25% and 6.25%, respectively as they came inline with the market expectations. However, the Cash Reserve Ratio (CRR) has been kept steady at 6%.
Market Outlook: The rates by RBI were as expected by the markets. Nifty and Sensex will be trading in a very narrow range today. However we are still bullish, We will advice to buy midcap stocks on every dip.