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Market Quote : Fears of a recession in the global economy exacerbated selling pressure Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 15 September 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"Defying the positive trend of global markets, domestic indices shed its early gains, dragged by losses in IT and pharma sectors, while mid & small caps outperformed. Fears of a recession in the global economy exacerbated selling pressure in IT and pharma stocks. Mid & small caps are expected to continue its trend in the short to medium term as they are trading reasonably well compared to large caps and at a discount to their historic valuation. Globally, in light of the elevated inflation in the US, investors are on an edge, assessing the possibility of a higher magnitude of a rate hike in the next Fed policy meeting"
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