Positive on private banks, large cap IT & pharma: P Phani Sekhar, Angel Broking

.....So to that extent it should not come as any surprise to them or to the street that RBI after initially attempting at least twice to contain the volatility did not yesterday intervene in the market and the rupee easily breached the 60 levels. So I guess beyond a point the central bank does understand that it is futile to fight the forces of the market and there is further depreciation out there in the rupee..............

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