Market Quote : PSU banks took the lead in the rally as major sector players announced solid results Says Mr. Vinod Nair, Geojit Financial Services.
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Quote on Market 07 November 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"The domestic market battled to find a clear direction but it ended up making gains. Losses in pharmaceutical companies were offset by buying in PSU banks, auto, and metal equities. PSU banks took the lead in the rally as major sector players announced solid results. Fall in oil prices as China disputed rumours of lifting Covid restrictions and stronger US jobs data showed that the US economy is expanding, helped market. However, investors will await US inflation data for market direction as there aren't many domestic clues left as the corporate earnings season is drawing to close with a negative bias"
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