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Market Quote : Though a late rebound was seen in the domestic market it was largely in the red zone Says Mr. Vinod Nair, Geojit Financial Services.
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Quote on Market 04 November 2022 By Vinod Nair, Head of Research at Geojit Financial Services.
"The Bank of England in its policy announcement, mirrored the Fed’s view, dashing hopes for a near-term policy softening. Though a late rebound was seen in the domestic market, it was largely in the red zone as the Pharma and IT sell-off continued due to concerns about the impending recession. The dollar surged along with the US Treasury yield following the hawkish remarks from global central banks, while FIIs continued their domestic support"
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