Market Quote : The correction in the market was led by auto stocks Says Mr. Vinod Nair, Geojit Financial Services.
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Below Quote on Market 02 December 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"The rally in the domestic market was halted by negative cues from global counterparts and broad-based profit booking in large caps. The correction in the market was led by auto stocks as the sales data came in lower than expected due to weaker exports and sequential de-stocking. Declining manufacturing activity in the US is proof that the central bank’s policy tightening has started to show results, which in turn will encourage the Fed to keep rate hikes at bay."
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