Market Quote : Positive sentiment initially propelled domestic equities Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 30 August 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"Positive sentiment initially propelled domestic equities, buoyed by softer US labour market data that caused a retreat in US bond yields, alleviating concerns about rate hikes. This positive outlook was reinforced by Chinese banks' move to reduce existing mortgage rates, favourably impacting Indian metal stocks. However, gains were tempered as the day progressed, primarily due to weakness in global markets attributed to lacklustre economic data from Europe. Banking stocks bore the brunt of this downturn, while mid- and small-cap segments displayed resilience amid the market dynamics."
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