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Below Quote on Market 1 December 2023 By Vinod Nair, Head of Research at Geojit Financial Services

"Better-than-estimated India GDP numbers will raise the growth outlook for FY24 and provide cheer for the market to continue its upward momentum. The capex by the government and the pickup in manufacturing activity, led the capital goods and infra stocks to outperform. The global market too rallied on hopes that the ECB has completed its rate-hiking cycle on the back of easing inflation and ahead of the FED chair speech today. Oil prices continued to move on the downside despite the OPEC+ supply cut, which will support the H2FY24 operating margins of the corporations. The auto sales numbers witnessed a festival cheer, while the premium valuation restricted the upside potential."

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