Quote on Morning market 08 November 2021 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 08 November 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Strong global tailwinds are likely to support markets as trading opens today after the holidays. Fed's decision to begin tapering in November was on expected lines. However, the commentary that reiterated the Fed's view that inflation would be transitory and the inference that tapering is not likely to lead to rate hikes soon, is being interpreted by the markets as a dovish stance. That's why the 10-year bond yield declined to 1.47 % and S & P surged to yet another record high. US unemployment falling to 4.6% is another factor that will support markets since it is a positive for global growth and corporate earnings.
Back home, in India, the macros are turning increasingly favourable. Rising tax collections - both direct and indirect - falling NPAs of the banking system, the fuel tax cut that can boost consumption and booming exports are clear positives. However, the concern on market valuations remain"
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