Market Quote : The domestic indices were responding to the global signals ahead of the Fed`s monetary policy decision later in the day Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 01 November 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"The domestic indices were responding to the global signals ahead of the Fed's monetary policy decision later in the day, while the global market was also assimilating to the mixed bag of US corporate earnings reports. Markets anticipate a status quo in the Fed policy however sustenance of the high rate for a prolonged period is the issue. Ease in demand, as reflected by October PMI data, led to more cautiousness in India compared to Asian & European peers. However, good H1 gross tax collection and in-line expectation monthly volume demand by the auto sector, resulted in a minimal negative effect."
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