Below is perspective on the market wrap up for the week by Dr. Joseph Thomas, Head of Research, Emkay Wealth Management.
“The frontline indexes nosedived on a day of unprecedented selling across sectors and market caps. The movements in the domestic market has been in sympathy with the movements in other Asian markets as well, and quickly followed by Europe at opening. The tapering of bond purchases by the Fed and the rising inflation fuelled the speculations of an early hike in rates by the Fed, that is , even before the conclusion of the tapering of bond purchases. These developments lent some strength to the US Dollar, and also prompted exit from emerging markets by FPIs. The markets are expected to remain volatile with reports of surging infections in the next wave of the pandemic especially in some of the European countries.”
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