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After the Finance Minister announcing a cut in excise duty on oil prices on Thursday, all eyes are now on the RBI meet outcome on Friday. Given the rupee’s weakness, the market expects a hike of 25 bps in repo and reverse repo rates. Some even expect a 50-bps hike. If the RBI does hike rates, it would be the third successive rate-hike at any MPC meeting. Stocks of rate-sensitive sectors such as banks, NBFCs and auto companies may come under pressure if the RBI surprises them negatively.
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