Market Quote : Domestic Market was able to withstand the downward pressure from global markets to close on a positive note Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 21 July 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"With support from FII buying, the domestic market was able to withstand the downward pressure from global markets to close on a positive note. Global indices traded lower on rate hike worries as ECB in its meeting today, is expected to raise rates by 50bps, while the Fed is expected to increase rates by 75bps in upcoming meeting scheduled next week. Even though a rate hike of this magnitude has already been factored in, the major market driver would be their commentary on future inflation and growth forecasts."
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