Weekly Market Outlook : Subdued Q3 results, soft budget expectations, a slowing economy, FII selling Says Vinod Nair, Geojit Financial Services
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Below is the Weekly Market Outlook By Vinod Nair, Head of Research at Geojit Financial Services
Subdued Q3 results, soft budget expectations, a slowing economy, FII selling, and concerns over global interest rate hikes defined the market in the past week. While economic optimism stemming from China’s reopening aided gains, weak US consumer data and hawkish comments from the Fed’s policy makers wounded investor risk appetite. Although we started the third quarter on a shaky note, the latest set of financial announcements from IT and banking blue chips are encouraging. Given the mixed undercurrents, the second line of Q3 and global market cues will determine the trend going forward.
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