Market Quote : Indian equities faced broad-based weakness, but the benchmark managed to stay marginally positive Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 10 July 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Indian equities faced broad-based weakness, but the benchmark managed to stay marginally positive with the support of strong buying in heavyweight stocks. The weakness was led by IT stocks, as the sector is set to kick off the Q1 result season with expectations of soft earnings. Additionally, cues from the US markets are unfavourable, as concerns about another rate hike persist despite expectations of a fast cooling of future US CPI inflation data.
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