Market Quote 04 May 2022 By Vinod Nair, Geojit Financial Services
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Below is the daily Market quote 04 May 2022 By Vinod Nair, Head of Research at Geojit Financial Services
"Although the rate hike was anticipated, the sudden announcement of a 40bps increase in repo rate along with a 50bps increase in CRR in response to the rising inflation spooked markets leading to a heavy selloff. Global markets are also trading cautiously ahead of the upcoming Fed meeting, as an increase of more than 50 bps will extend the current consolidation phase"
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