Morning Market Quote : The strength of the U.S. economy and the depreciation of rupee will be tailwinds for the IT sector Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

2025-01-09 09:36:06 am | Source: Geojit Financial Services Ltd

Morning Market Quote : The strength of the U.S. economy and the depreciation of rupee will be tailwinds for the IT sector Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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

"So far in January FIIs have sold equity for Rs 10419 crores. With the dollar index at 109 and the 10-year bond yield at 4.67% FIIs are likely to continue with their selling strategy putting pressure on the market in the near-term.

With the Q3 results season starting from today there will be market reaction to results. The results of TCS will give an indication of what is in store for the IT sector. The strength of the U.S. economy and the depreciation of rupee will be tailwinds for the IT sector.

Premium segments like hotels, jewellery, automobiles catering to the premium market and airlines are likely to report good numbers. Expectations from President Trump’s policy decisions and the Indian union Budget proposals will keep the market volatile in the coming days."

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