Morning Market Quote : India has outperformed with Nifty correcting only around 9% Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 01 July 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"H1 of 2022 has ended with the benchmark S&P 500 correcting sharply by 21 % - the worst half since 1970. This weakness has reflected declines in other markets too. But it is important to appreciate the fact that India has outperformed with Nifty correcting only around 9%.
With the economy showing signs of "gradual recovery despite global headwinds" (RBI), the prospects for H2 appear better for markets.
Leading indicators suggest improving prospects for banking, IT, telecom and autos. Stock price movements in the near-term in July will be in anticipation of better-than-expected Q2 results in these segments. Metals stocks are likely to bottom out absorbing the poor Q1 results."
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