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Quote On Morning Market 04 May 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

From the market perspective, more important than the expected dovish rate hike of 25 bp by the Fed is the Fed chief’s comment that “ the case of avoiding a recession is more likely than having a recession.” Market is likely to remain resilient with limited volatility.
Possibility of a soft landing for the US economy is positive for the IT segment which has been on the back foot on concerns of poor orders from the US.
The strength of the rupee and the continued buying by FIIs will impart  strength to the market.
High-frequency indicators in India reflect a resilient economy with improving earnings prospects. The sharp decline in crude is an extra bonus to the macro economy and benign for segments like paints, adhesives and tyres.

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