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#828 Daily Money Show | Money Purse Stock Market News
Takeaway
Modi-NDA stability rallied markets but SEBI's MF NAV-allotment probe and RBI's data-driven approach mean rate cuts may lag US Fed.
Summary
- Sensex +1,618 to 76,693, Nifty +468 to 23,290; mid-cap +1.36%, small-cap +2.33% as Modi's PM nomination by NDA allies confirmed market relief.
- SEBI investigating June 4 NAV allotment issue: many MF investors who invested before 2 PM got June 5 NAV instead of June 4—payment aggregator delays blamed; BSE denies tech glitch.
- RBI MPC: rates unchanged, FY25 GDP growth revised up to 7.2% from 7%, CPI inflation projected at 4.5%.
- RBI Governor Shaktikanta Das: RBI rate cuts will follow domestic conditions, not auto-mirror US Fed cuts—delays Indian rate-cut expectations.
- Trivia: PV Narasimha Rao's PM term delivered ~180% stock-market return, highest among PMs in five-year terms.
RBINAV issueModi
Original description
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