Morning Market Quote : An important data from the Q4 results yesterday is the robust order inflows for L&T Says Dr. V K Vijayakumar, Geojit Financial Services
Quote On Morning Market 11 May 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Two important news that market players have been closely monitoring - the US inflation print and Karnataka exit poll results - that came yesterday, are unlikely to impact the market significantly. Both were somewhat on expected lines. The US CPI inflation has eased to 4.9 percent YoY as the markets expected and the exit polls indicate a slight edge for the Congress, which also is not surprising.
The decline in bond yields in the US after the release of inflation data indicates that the market expects the Fed to pause in June.
An important data from the Q4 results yesterday is the robust order inflows for L&T. This indicates that the capex in the economy is gaining momentum. Capital goods segment will do well, going forward.
FPI inflows continue unabated touching Rs 19865 crores in May as per depository data. This will impart resilience to the market even if there is profit booking.
