Morning Market Quote : Bulls have again turned buyers and the near-term structure of the market Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 07 July 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The sharp correction in crude, commodities like metals, and the declining trend in edible oil indicate that inflation will come under control soon. Taking cues from these indicators the bulls have again turned buyers and the near-term structure of the market has turned clearly bullish now.
The crash in commodities and RBI's latest initiatives to increase foreign currency inflows have the potential to arrest further depreciation in rupee. This means FIIs are unlikely to sell more. This is positive for markets.
Leading indicators like demand for housing, autos particularly passenger and commercial vehicles, certain discretionary items like jewellery etc. reflect robust economic recovery in India."
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