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Quote on Morning market 08 July  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The recovery in Nifty and Nifty Midcap by 6% and 10 %  respectively from their recent lows indicates the resilience of the markets and its potential to scale newer heights under a favorable macro construct. The present rally is driven partly by expectations that given the steady decline in commodity prices inflation will start showing a declining trend enabling central banks to go a bit slow on hiking rates, and partly by short covering. It is quite probable that central banks may not tighten policy as much as the market feared earlier. If emerging data indicates the possibility of a soft landing for the US economy, the rally may gather momentum. Therefore, commodity prices have to be closely watched."

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