Market Quote : Global central banks are currently focused on addressing inflation Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 23 June 2023 By Vinod Nair, Head of Research at Geojit Financial Service
Global central banks are currently focused on addressing inflation and have reiterated their commitment to reaching their target levels, as evidenced by the hawkish commentary from Powell and the unexpected rate hike by the Bank of England. The downward revision of earnings guidance by a major US tech company Accenture has raised concerns about potential earnings downgrades in the Indian IT sector, resulting in pressure on IT stocks. However, the domestic market is not expected to experience a significant correction due to favourable domestic economic indicators and correction in international commodities prices to sustain earnings growth on a QoQ basis.
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