Market Quote : The strong domestic market on the other hand Says Mr. Vinod Nair, Geojit Financial
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Quote on Market 20 October 2022 By Mr. Vinod Nair, Head of Research at Geojit Financial Services.
"The sharp increase in US yield, global market weakness, and unexpected drop in INR promoted selling pressure in the domestic market. Globally, investors expect the Fed to stay aggressive, raising interest rates by 75 basis points in the next two policy sessions, bringing the fed rate as high as 4.50% to 4.75%, by the end of the year. The strong domestic market, on the other hand, regained its losses as the RBI is expected to be less aggressive as domestic inflation is thought to have peaked. However, FPI inflows are anticipated to remain volatile in the short-term due to elevated US yields."
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