Market Quote : The effects were felt by the domestic market as well and is expected to impact in the near-term says Vinod Nair, Head of Research, Geojit Financial Services
Below the Quote on Market Quote from Vinod Nair, Head of Research, Geojit Financial Services
"The global market was jolted into a cautious mode by recessionary fears in the US following disappointing job statistics and an unwinding of carry trade following the rapid rise of the yen. The effects were felt by the domestic market as well and is expected to impact in the near-term. Nevertheless, the market showed resilience at day's low and recovered to close above 24,000. Historically, the Indian market had showcased a solid track record of outperformance compared to the global market, in the long-term. This trend is expected to stay as GDP growth is forecast to be robust for the decade aided by progressive policies, fiscal prudence, and a favourable political landscape."
Above views are of the author and not of the website kindly read disclaimer
