Market Quote : The Indian market was oversold and needed encouraging domestic triggers Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 01 March 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The Indian market was oversold and needed encouraging domestic triggers to show signs of revival. The manufacturing PMI reported was better than predicted at 55.3, even though India's Q3 FY23 GDP statistics came in slightly below expectations at 4.4%. Solid global markets, bolstered by strong Chinese manufacturing data, also ignited optimism in the domestic market.
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