Quote on Morning market 08 June 2022 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 08 June 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Up to 50 bp rate hike by the RBI is already discounted by the market and, therefore , the central bank's guidance on inflation and rates will be more important. Inflation for FY23 is likely to be around 6.8% forcing the RBI to sound hawkish.
For the market, more important than today's policy announcement would be the US inflation data to be released on Friday. If the US inflation print comes higher than expected, markets will start discounting a more aggressive Fed and this can cause sharp market correction. On the other hand, if the data indicate inflation peaking and potentially drifting down, the US market will bounce back providing a lift up for global markets. One predictable trend in India is that FPIs will continue to sell on every rally."
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