Market Quote : The soaring dollar as a result of aggressive monetary tightening Says Mr. Vinod Nair, Geojit Financial
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Below Quote on Market 26 September 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"The soaring dollar as a result of aggressive monetary tightening, slowing economic growth and rising demand from cautious investors are causing turbulence in the global equity market. This is creating mayhem in the domestic market led by weakening INR, elevated bond yields and pessimistic trends of Asian peers. Only the IT sector, which exhibited the weakest performance in the last 1yr, defied the trend in anticipation that the global recession is mostly factored in the price and are trading at reasonable valuations".
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