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Quote On Morning Market 26 July 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Globally market participants will be closely watching the Fed chief Jerome Powell’s comments about the disinflation process in the US and the likely trend in interest rates. A 25 bp rate hike, already discounted by the market, will not trigger any market move. But if the Fed chief indicates that inflation is coming under control and, therefore, no further rate hikes are needed, that will be a big trigger for markets to move up. But such an outcome is highly unlikely since the Fed will play it safe even if inflation is coming under control.
While the range bound movement of the Indian market is likely to continue today, individual stock action in response to results and news will happen. Q1 results of Tata Motors and their decision to cancel DVR shares and the good results of L&T and the share buy back news are sentient positive.

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