20-11-2023 05:40 PM | Source: Geojit Financial Services Ltd
Market Quote : Elevated long-term interest rate trends and a weakening global economy continue to hurt inflows and market movement Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 20 November 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"Elevated long-term interest rate trends and a weakening global economy continue to hurt inflows and market movement. While the recent softening of inflation in the US & India and the negative trend of crude are expected to help the view on global equity and India in the short term. In that context, the ease in FIIs selling is helping the domestic markets but continues to consolidate primarily due to India's premium valuation relative to global peers. In this scenario, the IT sector is benefiting; however, valuation continues to be on the higher side compared to long-term history, suggesting a cautious approach in the sector in the medium term."
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