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Quote On Morning Market 22 February 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The US macro data continues to dictate equity markets globally. The US markets reacted sharply negatively to the series of economic data indicating that the process of disinflation is slow and, therefore, the Fed will have to continue raising rates longer than expected earlier. This pushed up the 10-year bond yield sharply to 3.95% and stocks fell sharply. These negative US equity market trends are impacting equity markets everywhere and India cannot be an exception to this trend at least in the near-term.

Investors should ignore these short -term gyrations and focus on slowly accumulating high quality growth stocks which will bounce back smartly when the present near-term gyrations die down. Indian economic growth prospects continue to remain strong and all domestic demand driven sectors will continue to do well, going forward.

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