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Market Quote : The domestic benchmarks experienced a strong rally Says Vinod Nair, Geojit Financial Services
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Market quote from Vinod Nair, Head of Research at Geojit Financial Services - 29th May 2023
The domestic benchmarks experienced a strong rally and came close to its life-time highs, primarily driven by positive global cues and robust predictions of domestic economic growth. An in-principle approval from US leaders for raising the US debt ceiling has generated optimism among global investors, who are now anticipating the next monetary plan of the Fed and economic data points. Meanwhile, the US PCE inflation rate that came in higher than anticipated raised the prospect of another rate hike by the Fed in its June meeting.
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