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Below is the Weekly Market Outlook By Vinod Nair, Head of Research at Geojit Financial Services

"The domestic market remained flat with a positive bias during the week as favourable domestic cues were countered by mixed global mood. The US GDP grew by 2.6% during the quarter that ended in September. However, it failed to lift the market as US tech stocks saw a significant sell-off following disappointing quarterly results and a bleak forecast. The ECB raised interest rates by 75 basis points, also signalling that it is making progress in combating record inflation, though the plausibility of a recession grew. The expectation that the central banks would slow down the pace of rate hikes from the beginning of CY23 gave comfort to the global markets. As a result, bond yields across the globe softened, with the US 10yr yield diving below 4%. The strengthening rupee, along with a softening treasury yield and decent Q2 earnings results, will support the domestic market in the near term"

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