Morning Market Quote : TCS results indicate continuing growth for the IT industry Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote on Morning Market 10 January 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"After the positive market news of last Friday the market would be keenly watching the Powell Speech today and the CPI data to be released tomorrow. Powell is unlikely to depart from the Fed’s hawkish stance but if the CPI data of Wednesday confirms the declining trend in inflation, the market will get ahead of the Fed and will start pricing in a terminal rate below 5% and possible rate cuts by end 2023. On the other hand, if inflation continues to remain high, there can be a sell-off in the market discounting higher rates and a hard landing for the US economy. So, investors may wait for these crucial inputs before taking a call on near-term market trends. TCS results indicate continuing growth for the IT industry with slightly weakening deal wins. Results of Infy and HCL Tech due this week will throw more light on the short-term prospects of the industry."
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