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Quote On Morning Market 06 February 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

After the Adani crisis broke out, the market has been on a twin track - crash in Adani stocks and stability in the rest of the market. The banking segment, which also came under pressure on fears of the crisis impacting banks, has recovered. The crisis is unlikely to pose any systemic risk to the Indian banking system. It appears that the Adani crisis’ impact on the market is slowly dying down. Excellent results from ITC and SBI are likely to support the market.

Globally, the surprise element is the robust job numbers in the US which came at 517000 in January. This tight labour market in the US indicates continuing strength in the U.S. economy and the possibility of US recession receding. At the same time the Fed  will be forced to remain hawkish for an extended period of time. The US CPI data to be published on 14th February will be keenly watched by the market.

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