Market Quote : Additionally, the GST collection in April was the highest recorded to date Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 02 May 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Defying the trend in global peers, Indian benchmark indices continued its upward momentum, fuelled by strong Q4 earnings and favourable domestic macroeconomic data. The manufacturing PMI surpassed expectations due to an increase in new business, moderation in price pressures, and improved supply chain conditions. Additionally, the GST collection in April was the highest recorded to date. While western markets traded with mild cuts ahead of the US Fed policy announcement, the domestic market benefited from strong inflows by FIIs.
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