Market Quote : Domestic indices moved in line with peers while prospects of higher rate Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 01 September 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"Domestic indices moved in line with peers while prospects of higher rate hikes, elevated inflation and a slowing economy put pressure on stock markets around the world. Although India’s Q1 GDP was reported below the RBI’s estimate of 16.2%, the strong growth seen in manufacturing activity during Q2 so far indicates a strong recovery in the domestic market. Additionally, ongoing support from FIIs will obscure the weakness, helping domestic indices to stay resilient"
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