29-12-2023 05:44 PM | Source: Geojit Financial Services Ltd
Market Outlook : The market witnessed mild profit booking on the last trading day of the year by Vinod Nair, Geojit Financial Services
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Market Outlook 29 December from Vinod Nair, Head of Research at Geojit Financial Services
"The market witnessed mild profit booking on the last trading day of the year. While the euphoria is expected to continue during the start of the next year on account of the exuberance of rate cuts and the drop in bond yields. Oil prices, on the other hand, fell by 10% during the year, which could ease inflationary pressure and support the operating performance of the corporates. We feel that though the outlook on broader indexes is moderate in the short to medium term, the large caps will maintain their vibrancy due to strong earnings growth and in anticipation of the continuation of premium valuation."
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