Market Quote : While optimism about moderation in US inflation supported the broad index Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 12 July 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The range-bound movement in the Indian indices was influenced by the likelihood of subdued IT earnings. While optimism about moderation in US inflation supported the broad index. Further, an uptick in domestic food inflation on the back of higher mandi prices trending above MSP and muted Kharif sowing forced the investors to be cautious. Monsoon progress and the Kharif sowing trend in July are the keys to the future inflation trend.
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