Market Quote 12 August 2021 by Vinod Nair, Geojit Financial Services
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Below is quote on Daily Market view 12 August 2021 by Vinod Nair, Head of Research at Geojit Financial Services
"Market breadth continued to be skewed in favour of the bulls amidst mixed global cues and strong support from IT, power and utility stocks. Chinese jitters over tightening regulatory scrutiny of online insurance companies were outweighed by the slowdown in pace of the US inflation data and rebound in UK GDP numbers. US consumer price inflation stood at 5.4% YoY in July, unchanged from June’s data, taking some heat out of concerns over early tapering by the Fed. UK GDP grew by 4.8% QoQ in Q2 as activity and demand rebounded with the easing of covid restrictions."
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