Morning Market Quote : It is probable that the Fed might pause after one more hike of 50 bp Says Dr. V K Vijayakumar, Geojit Financial Services
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Quote on Morning Market 11 November 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"It was well known that the crucial US inflation numbers for October will sway the market either up or down depending on the trajectory of inflation. Now that the inflation print - both CPI and core- has come below expectations, the direction of the markets is a foregone conclusion. The numbers speak for themselves - Nasdaq is up by 7.35 %, S&P is up by 5.5%, the dollar index has crashed to 108.3 and the US 10-year yield has dived to 3.8%. Since the CPI and core print indicate moderation of inflation, it is probable that the Fed might pause after one more hike of 50 bp. This is good news for global equity markets.
Since dollar is weakening, FIIs are likely to increase their buying and with Monthly SIP figure crossing Rs13000 crores, DIIs too will have to deploy the inflows. In brief, it is Advantage Bulls for the near- term. New record for the Nifty is only a question of when."
Above views are of the author and not of the website kindly read disclaimer
Tag News
Trend reversal in FPI investment from buying in last 3 months to selling in Sep
