Market Quote : Ahead of the impending results season, investors are adopting a profit booking strategy says Vinod Nair, Geojit Financial Services
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Below is the daily Market quote 02 January 2021 by Vinod Nair, Head of Research at Geojit Financial Services
"The market extended yesterday’s last hour’s sell-off, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which has the potential to disrupt global trade and crude supplies. Ahead of the impending results season, investors are adopting a profit booking strategy. Auto stocks declined on below-expected volume numbers, while pharma stocks were the standout due to catch-up in the US economy."
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