Market Quote : The sharp decline in crude prices is a huge positive for the domestic economy Says Mr. Vinod Nair, Geojit Financial Services.
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Quote on Market 21 November 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"The sharp decline in crude prices is a huge positive for the domestic economy. However, the market did not respond favourably due to stronger headwinds from the global market. The prospect of a prolonged tightening cycle by the US Federal Reserve and the Chinese COVID restrictions affected the world market. Along with other major sectors, metal stocks traded with cuts despite the government's decision to remove export duty on iron and steel."
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