Market Quote : The mounting influence of weak global cues hindered the domestic market`s ability to recoup Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 17 August 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"The mounting influence of weak global cues hindered the domestic market's ability to recoup, resulting in sustained selling pressure. The release of Fed minutes unveiled a divided stance among its members regarding the necessity of additional rate hikes, contrasting the previously anticipated rate pause. Concurrently, the Indian rupee experienced a decline due to the dollar index surpassing 103.5; however, likely intervention from the RBI offered a degree of support. Moreover, the escalation of US bond yields is expected to limit the influx of foreign investments into the Indian market, further impacting market dynamics."
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