Weekly Market Oulook By Vinod Nair, Geojit Financial Services
Below is the Weekly Market Outlook By Vinod Nair, Head of Research at Geojit Financial Services
"Domestic equities swung between gains and losses in this week’s volatile session driven by aggressive FII selling, RBI policy meeting, US inflation data and the upcoming state elections. Though the investors expected the RBI to moderate its policy tone, the central bank surprised the market with a super dovish statement by maintaining its accommodative stance, modest inflation forecast and GDP growth of 7.8% in FY23. However, the US inflation surged 7.5% on an annual basis with the consumer price index for all items rising 0.6%in January, fuelling fears of a hawkish rate hike by the central bank. Net purchases by the DIIs is pumping slight optimism into the market which is countered by heavy FII selling.
The direction of the market in the week ahead will be determined by cues from global markets while domestic macroeconomic data and corporate earnings will continue to remain in focus in the near term"
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