Market Quote : Optimism in the domestic market was more visible in the IT sector Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 24 August 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The US market exhibited a positive trend as declining US PMI ignited hopes of a prolonged rate pause, calming US bond yields. Optimism in the domestic market was more visible in the IT sector, though sentiments were reversed in other major sectors, likely influenced by the prevailing global uncertainties. Despite this, mid- and small-cap stocks demonstrated resilience, and the decline in bond yields facilitated a resurgence in foreign investor buying momentum.
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