Weekly Market Outlook : Bulls dominated domestic markets as the indices Says Vinod Nair, Geojit Financial Services
Below is the Weekly Market Outlook 10 September 2022 By Vinod Nair, Head of Research at Geojit Financial Services
"Bulls dominated domestic markets as the indices moved in tandem with developments in the global markets. Global indices edged higher as investors reassessed the outlook for monetary policy following ultra-hawkish remarks from the Fed chair and 75bps rate hikes by ECB. While the energy crisis in Europe continued to haunt investors, Chinese policymakers' renewed efforts to strengthen its economy boded well for the Chinese bourses. In an effort to stabilize declining oil prices, OPEC+ opted to cut back on output given the faltering global growth outlook. Domestic investors held an upbeat outlook, bolstered by strengthening economic statistics, continued FII inflows, and rising corporate activity. Banking and consumption stocks remained top picks during the week.
The direction of the market in the week ahead will be determined by cues from the global markets as well as important macroeconomic data points, such as inflation and manufacturing & industrial production data, to be released next week. Domestic retail inflation is expected to rise to 6.9% in August from 6.71% in July."
Above views are of the author and not of the website kindly read disclaimer
Tag News
We anticipate immense potential benefits from the upcoming Sovereign Gold Bond Tranche in FY...