27-08-2024 05:16 PM | Source: Geojit Financial Services Ltd.
"The domestic market witnessed profit-booking near record highs. While the positive expectations regarding a potential rate cut by the Fed in September remain, the recent geopolitical tensions and rising crude oil prices have made investors cautious amid high valuations. IT and financial stocks continued to perform well, whereas FMCG and metal stocks saw declines. Further, the recent shift in FII stance towards the domestic market and the anticipation that the RBI will align with the Fed’s actions are expected to foster a positive outlook in the near term."
Market Quote : The domestic market witnessed profit-booking near record highs says Vinod Nair, Head of Research, Geojit Financial Services
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Below the Market Quote from Vinod Nair, Head of Research, Geojit Financial Services
"The domestic market witnessed profit-booking near record highs. While the positive expectations regarding a potential rate cut by the Fed in September remain, the recent geopolitical tensions and rising crude oil prices have made investors cautious amid high valuations. IT and financial stocks continued to perform well, whereas FMCG and metal stocks saw declines. Further, the recent shift in FII stance towards the domestic market and the anticipation that the RBI will align with the Fed’s actions are expected to foster a positive outlook in the near term."
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