Sensex, Nifty, Share Price LIVE: The short-term outlook is bullish for Alkem Laboratories. The stock surged over 4 per cent on Wednesday, breaking above the 100-Day Moving Average. It also confirms an inverted head and shoulder pattern on the chart. Also, the rise this week indicates that the downtrend in place since September last year has reversed.
RBI had lowered the repo rate by 25 basis points for the second time in a row to 6% and changed its stance to 'accommodative' from 'neutral' on April 9. He hinted at further rate cuts by adding that "going forward too, considering the evolving growth-inflation trajectories, monetary policy needs to be accommodative."