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Quote on Weekly market outlook By Vinod Nair, Head of Research at Geojit Financial services.

"During the week, the domestic market saw a bull run, led by consolidation in commodity prices, and reduced FII selling. Crude prices fell over recessionary fears. However, the fall has boosted the appetite for consumption, chemicals, logistics and OMCs as it will reduce the cost burden of these sectors. Falling crude prices will calm inflationary fears, reducing the burden on central banks to raise interest rates aggressively at upcoming meetings. Positive domestic macro and business data by banks were the other major factors that helped in boosting market sentiment. Currently, investors are preferring value than growth stocks, resulting in selling across sectors like IT. Defensive sectors like FMCG can perform better due to strong cash flow, high governance, dividend policy and stable earnings growth. As we step towards the new earnings season, quarterly announcements will be the prime focus of the market with an eye on the updated guidance of 2023 financial year."

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