Quote on Morning market 12 January 2022 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 12 January 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The short-term momentum reflects a market in complete control of the bulls. The expected good results from the three IT majors today is likely to impart resilience to the market. Results from the leading banks starting Saturday also will be good thanks to declining provisioning and rising NIMs.
Though Omicron cases are exploding in Europe and US the market message is that it is a manageable risk.
It is interesting to note that inspite of the hawkish statement from the Fed chief that they will " use the full suite of policy tools to prevent higher inflation from becoming entrenched," the US 10-year bond yield fell marginally. This indicates that the market has already discounted three or even four rate hikes in 2022"
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