India’s Financial Conditions Index Remains Broadly Unchanged In February: ICICI Securities
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ICICI Securities Report
Our proprietary Financial Conditions Index (FCI) score remained broadly unchanged in February 2021 from January 2021. However, the components of FCI recorded sharp movements.
Debt market conditions worsened to 13-month low as supply concerns pushed up yields.
Forex market conditions also worsened despite appreciating rupee as forward premia inched up sharply, possibly due to shift of currency interventions to the forward market.
Good performance by the stock market, on the other hand, provided comfort.
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