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Morning Market Quote : Brent crude falling to $94 and steady buying by FIIs augur well for the markets Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 16 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The surprise rate cut in China when the rest of the world is hiking rates is an indication of the sharp growth slowdown in China triggered by the widespread Covid lockdowns and woes of the property market. With other BRICS economies like Brazil and South Africa struggling and Russia expected to contract by 9% this year, India stands out with an expected growth rate of 7.2% in FY 23. Steady decline in CPI inflation ( 6.7% in July), Brent crude falling to $94 and steady buying by FIIs augur well for the markets. However, high valuations are a concern. While remaining invested, investors must exercise caution chasing this rally."
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