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Quote On Morning Market 17 March 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

There are indications of the storm in the global banking sector blowing over. The authorities including the US treasury, the Fed, the Federal deposit insurance corporation and the Swiss central bank have acted timely and decisively to contain the crisis and calm the markets. This should infuse confidence in investors. Meanwhile, the sharp correction in crude and the declining trade deficit have improved India’s macros significantly. Declining fiscal and current account deficits along with a healthy banking system and deleverage corporate sector can deliver good growth and corporate earnings in FY24. The recent market correction has also made valuations reasonable. This is positive news from the market perspective.

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