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Quote on Morning market 30 Septembar  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The market trend in the US and Europe continues to be bearish. Markets are increasingly discounting the likelihood of a US recession and a sharp slowdown in global growth in 2023. India too will be impacted by a sharp global growth slowdown but will be one of the least impacted since domestic growth impulses continue to be strong. Today’s MPC rate action - most likely a 50 bp rate hike - will not impact equity markets since this is already discounted by the market.in the near term the market will be influenced by the Q2 results that will start coming soon. Results of financials particularly large banks and fintech companies, autos particularly passenger and commercial vehicles and select 2-wheelers, IT, telecom, paints and adhesives and pharma will be good and the market might respond positively to them.Investors may consider adding weightage to defensives like pharma and FMCG in this volatile environment."

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