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Quote on Morning Market 09 December 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Equity markets will be looking forward to next week’s crucial meeting of the Fed. Since the ECB and Bank of England meetings also are due next week it would be important to know the leading central banks’ view on the emerging economic scenario and their policy response. A decisive turn in the market is likely to happen only after that. In India the market is now responding to the clear trends in sectors. The better-than- expected credit growth in the economy, now running at 17.2% as per the latest RBI data, is driving the rally in the Bank Nifty. Price action in PSU banking stocks indicate interested buying in this segment whose valuations are, even after the recent run up, attractive.

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