Morning Market Quote : There is a churn happening in the market now in favour of autos Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote on Morning Market 27 January 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Data from the US indicate a resilient economy. With 2022 Q4 GDP growth at a better-than-expected 2.9% and jobless claims falling, the hope for a soft landing for the US economy is increasing. Interestingly, this good economic news is now becoming good news for the market unlike earlier when bad economic news turned out to be good news for markets. There is a churn happening in the market now in favour of autos in response to good results from Tata Motors and Bajaj Auto. Adani stocks are likely to continue under pressure due to the fallout from the Hindenburg report. The elevated valuations of Adani stocks are a serious concern.
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