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Perspective on Market : The equity market witnessed some recovery at the weekly closing probably due to some amount Says Dr. Joseph Thomas, Emkay Wealth Management
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Perspective on Market By Dr. Joseph Thomas, Head of Research, Emkay Wealth Management
“After an extremely volatile week, the equity market witnessed some recovery at the weekly closing probably due to some amount of short covering ahead of the weekend. There have been some signs of improvement in the overall macro environment mainly due to the surge in the US Dollar and the consequent fall in commodity prices especially Brent. But currency depreciation might eat into some of the gains made in prices after the fall, as trade deficit moves close to US196 billion. The US inflation number surged past the 9% level and was much higher than general expectations, and this fuelled the speculation on the quantum of the next rate hike by the Fed. The market will be looking forward to the FOMC meeting as also other related developments to gauge the direction better.”
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