Market Quote : The domestic market rebounded with strong buying in banking, pharma, and consumer stocks Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 16 June 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The domestic market rebounded with strong buying in banking, pharma, and consumer stocks, along with positive cues from global markets. The US market's optimism was bolstered by better-than-expected retail sales, reflecting the robustness of the economy. Furthermore, jobless claims remain elevated and a decline in import prices raised hopes for a prolonged pause in interest rate hikes by the Fed, contradicting their announcement of potential future rate hikes made the previous day.
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