IMD's forecast fortifies confidence in the economy: Angel Broking

Views of Mr. Vaibhav Agrawal (Head of Research and ARQ):

"IMD's latest rainfall forecast indicates of above normal monsoon in 2017 which bodes well for the economy. Last year, we had a normal monsoon season which has helped in softening the food inflation and strengthening the rural economy. With the strong rainfall this year, we believe that economy will continue to see higher farm output which will ease the inflation worries further. Optimistically speaking, this may lead to lower the interest rates further. Considering the juncture at which Indian markets are, strong monsoon helps in fortifying the confidence in our economy. We believe that this is likely to be the next trigger for the markets."

Source : Equity Bulls

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