Market Quote 03rd November 2021 By Vinod Nair, Geojit Financial Services
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Below is the daily Market quote 03rd November 2021 by Vinod Nair, Head of Research at Geojit Financial Services
"After a sideways movement post its positive opening, the indices took a downturn as major global indices traded weak ahead of the Fed policy announcement. The Federal Reserve is widely expected to announce the tapering of its asset purchase program in the near-term while any hint on interest rate reversal is keeping investors on the edge. Any indications showing a faster rate of tapering will have a negative effect on the equity market. Or else, we can expect a reversal from this weak trend. On a positive note, despite the rise in input costs, India’s Services PMI jumped to 58.4 in October from 55.2 in September owing to ongoing improvements in demand boosting the growth of sales"
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