Market Quote : The better-than-expected US Q2 GDP data, though positive Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 28 July 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The better-than-expected US Q2 GDP data, though positive, hindered the mood of the domestic market as it signalled the chances of another rate hike. The Fed chief's comments about a data-centric approach without ruling out rate hikes added to the uncertainty. Furthermore, the reversal of the buying trend by FII and the rise in US bond yields contributed to market volatility. However, Asian markets remained largely positive due to the BOJ's decision to retain the policy rate, contrary to speculation about the removal of stimulus measures.
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