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Market Quote : The IT sector witnessed the highest profit booking Says Mr. Vinod Nair, Geojit Financial Services.
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Below Quote on Market 05 December 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"Market continued its profit booking trend from the record high as they exercised prudence ahead of the RBI policy announcement on 7th December . Partially, it was also due to increase in crude prices due to OPEC decision not to cut output target, and ease in China’s covid policy. The IT sector witnessed the highest profit booking, while bank and metals outperformed. Market expects a 35bps rate hike compared to 50bps in the previous three meets in anticipation of a fall in inflation forecast."
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