Market attempted to pull back from yesterday`s selloff but wasn’t that enthusiastic By Vinod Nair, Geojit Financial
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Below are Views On Market attempted to pull back from yesterday’s selloff but wasn’t that enthusiastic By Vinod Nair, Head of Research at Geojit Financial Services
"Market attempted to pull back from yesterday’s selloff but wasn’t that enthusiastic. IT sector broke the trend due to profit booking as initial Q4 results were in line with expectations not providing enough leeway to a highly valued sector. While Industrial production for February declined by 3.6% primarily due to contraction in the manufacturing and mining sectors. India’s retail inflation for March also rose to 5.52%, however, it did not harm the market sentiment as it was in line with the recent RBI policy forecast. How the lockdowns will affect the economy will determine the trend of the domestic market, in the short-term"
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