Market Quote : Investors welcomed the new year on a high note Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 02 January 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"Investors welcomed the new year on a high note with data showing strengthening domestic business conditions. India’s manufacturing PMI rose to 57.8 in December from 55.7 in the previous month, with new orders rising at the fastest pace since February 2021. Metal stocks led the surge following reports of China raising export duties to support their domestic demand, which is positive for India. We expect 2023 to be a year to buy equities in anticipation that a large part of the global recession has already been factored in the market."
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