Market Quote : Despite weak cues from global markets, the domestic market defied Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 26 May 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Despite weak cues from global markets, the domestic market defied the trend and experienced a widespread rally, driven by the strong growth forecast for the Indian economy. With the upcoming Q4 GDP data, it is anticipated that India's FY23 GDP will marginally surpass the earlier projected 7.0% growth rate. Additionally, the expectation of a normal monsoon and consistent FII buying further boosted confidence among domestic investors.
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