Daily market quote from Vinod Nair, Head of Research at Geojit Financial Services
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Below the daily market quote from Vinod Nair, Head of Research at Geojit Financial Services.
"The domestic market was marginally disappointed by lower than expected infra spending in the interim budget. However, the government's commitment to fiscal prudence, targeting a fiscal deficit of 5.1% for FY25BE, is expected to improve the outlook on economic ratings. This led to a significant drop in India's 10-year yield by 100bps to 7.04%, reflecting optimism due to lower-than-expected government borrowing. Meanwhile, the US FED's decision to maintain rates without clear guidance on future cuts dampened market sentiments"
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