Market perspective by Dr. Joseph Thomas, Head of Research, Emkay Wealth Management
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Below the perspective of Dr. Joseph Thomas, Head of Research, Emkay Wealth Management on the markets.
The equity markets traded lower from early this week till the last trading day, mostly swayed by developments around the US monetary policy and US markets. Though the Fed announced a hold on the Fed Funds Rate, the guidance on future rates left a strong probability of future rate hikes, at least one before the end of this year. That there may be further rate hike rattled the markets with the US markets losing altitude first and followed by Europe and Asian markets. There is also an element of profit booking that is at work, though this may be a passing one, as also some selling by FPIs. The factors that have influenced the markets may continue to exert some pressure in the coming week too.”
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