Globally, the market backdrop is favourable with both US and European markets Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 7 June 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Globally, the market backdrop is favourable with both US and European markets consolidating and slowly gaining strength. Markets believe that the June Fed decision will be a pause. In India, too, the MPC decision tomorrow is most likely to be a pause since CPI inflation has come within RBI’s tolerance limit. The 7.2% GDP growth in FY23 and upward revision in FY 24 growth rate to around 6.4% are strong positives that can impart resilience to the market.
Financials will continue to do well. Autos have made a strong comeback after 5 years and will gain further from falling commodity prices and steadily improving demand.
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