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Market Quote : The trend was reflected in the domestic market Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 28 April 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Despite concerns about potentially weaker US GDP numbers and high inflation, the stronger-than-expected earnings reported by Meta propelled IT stocks to the forefront of the Wall Street rally. The trend was reflected in the domestic market, as beaten-down IT stocks helped to lift broader market sentiment. However, with US inflation remaining high, the prospect of another rate hike by the Fed is looming, keeping global markets volatile in the coming days.
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