Weekly Market Outlook: Strong fundamental triggers will limit the upside, keeping the market volatile Says Mr. Vinod Nair, Geojit Financial Services
Weekly market outlook By Vinod Nair, Head of Research at Geojit Financial Services.
"Bulls dominated Dalal Street, with the indices parked near record highs, supported by favourable triggers like FII buying, a drop in crude prices, a falling dollar index, and declining bond yields. The FOMC meeting minutes hinted that the rate hike cycle may be slowing down. Crude oil prices dropped over talks of a possible price cap on Russian oil and a rise in US product stockpiles. However, the tight COVID lockdown in China has negatively impacted the global growth forecast. Going ahead, the lack of strong fundamental triggers will limit the upside, keeping the market volatile in the short term. The Fed Chair's speech, which is scheduled for next week, and the release of other significant macroeconomic data will influence the market's future trajectory."
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