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Below is quote on Market by Dr. Joseph Thomas, Head of Research, Emkay Wealth Management.

“The market , all through the week, witnessed selling across market cap and sectors, and obviously displayed signs of being in  a bear grip, as it traded lower, breaking certain key technical levels. The normalization of liquidity, and the likely hike in key policy rate in the US accelerated the fall in the US markets and Europe, and the same was reflected in emerging markets too. The domestic market has seen a huge selling by the overseas investors, and this aspect has been the main factor dampening the sentiments to a large extent. The coming week will be influenced to some extent by the expectations from the Union Budget which will be presented on Feb1,2022. The outlay on infrastructure, the expansion of the PLI Scheme, the fiscal consolidation path post the pandemic, the specific measures to boost consumption, are some of the things which the market is eagerly waiting for. An aggressive budget alongwith reasonably good earnings performance could counter the pace of the sell off in the markets to a significant extent”

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