2024-12-17 09:07:57 am | Source: Geojit Financial Services Ltd
The sharp spike in India’s trade deficit to $37.8 billion in November will put pressure on the rupee pushing it towards 85 to the dollar. Exporters like IT and pharma will benefit from depreciating rupee and for importers the import cost will increase. This will have an impact on their stock prices."
Morning Market Quote : Globally markets will be looking forward to the FOMC outcome on Wednesday Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"Globally markets will be looking forward to the FOMC outcome on Wednesday. Markets have already discounted a 25bp rate cut and, therefore, the focus will be on the Fed chief’s commentary. Any departure from a dovish commentary will be a negative from the market perspective. This is only a remote possibility. The US services PMI coming strong at 58.5% indicates a resilient economy, which augurs well for the market.
The sharp spike in India’s trade deficit to $37.8 billion in November will put pressure on the rupee pushing it towards 85 to the dollar. Exporters like IT and pharma will benefit from depreciating rupee and for importers the import cost will increase. This will have an impact on their stock prices."
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