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Daily Market Outlook: Despite unfavourable global cues, the domestic market reversed its early losses to trade at record highs Says Mr. Vinod Nair, Geojit Financial Services
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Daily market outlook By Vinod Nair, Head of Research at Geojit Financial Services.
"Despite unfavourable global cues, the domestic market reversed its early losses to trade at record highs. Following the decline in oil prices, oil & gas stocks led the rally in anticipation of margin gains, as ongoing protests in China fuelled demand concerns. Going ahead, global markets will depend on Powell’s speech on Wednesday, which is crucial in maintaining the momentum, as the market seems to have factored in a moderation in the pace of rate hike."
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