Morning Market Quote : The positive trend is likely to keep the domestic equity market resilient Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 11 July 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"There are many significant data points which will influence equity markets in the short run. The US jobs data showed 372000 job creation in June, indicating a strong economy and an increasing possibility of the Fed successfully engineering a soft landing of the US economy.
The sharp decline in prices of commodities, particularly of crude, metals, wheat and edible oil augurs well for inflation management in India. This means, RBI can afford to go a bit slow on hiking interest rates in India. This positive trend is likely to keep the domestic equity market resilient. The selling exhaustion from FIIs last week is another positive for markets for the short-term.
The market texture reflects a change in investment strategy from sell on rallies in June to buy on dips in July. Segments like capital goods, autos and high-quality financials indicate strength."
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