Morning Market Quote : Market Likely to Consolidate Amid Lack of Immediate Triggers Says Dr. V K Vijayakumar, Geojit Financial Services

27-11-2024 09:07 AM | Source: Geojit Financial Services Ltd

Morning Market Quote : Market Likely to Consolidate Amid Lack of Immediate Triggers Says Dr. V K Vijayakumar, Geojit Financial Services

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Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

"President-elect Trump has already started declaring what he intends to do immediately upon his taking office on January 20th. 25% tariffs on Mexican and Canadian imports and an additional 10% tariffs on Chinese imports have already been announced. How these countries react to these tariffs remains to be seen. Trump has declared only 10% additional tariffs on Chinese imports indicating that he will be careful not to trigger imported inflation in the US. Market participants will be closely watching this trade space which has become unpredictable. India is unlikely to be impacted in the initial phase of Trump’s tariff plan but may come under Trump’s radar soon since India has a trade surplus with the US.

Market is likely to consolidate around the current levels since there are no immediate triggers for a breakout or a break down. A major market concern from relentless FII selling is receding since they have turned buyers, though marginally."

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Morning Market Quote : Market Likely to Consolidate Amid Lack of Immediate Triggers Says Dr. V K Vijayakumar, Geojit Financial Services

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