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12-12-2023 10:53 AM | Source: Geojit Financial Services Ltd

Morning market Quote : These positive economic news is being strengthened by expectations of political stability after the 2024 General elections Says Dr. V K Vijayakumar, Geojit Financial Services

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Below Quote On Morning Market 05 December 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The fundamental factor supporting the rally which has taken the market to record highs is the series of positive news: Q3 GDP growth rate of 7.6%, CPI inflation falling to 4.87%, Manufacturing PMI rising to 56, Brent crude declining to $76 and FPIs turning buyers aided by correction in US 10-year bond yield to 4.23%. These positive economic news is being strengthened by expectations of political stability after the 2024 General elections. Since these positive developments are mostly in the price, the market is likely to wait for incoming crucial data before making further moves. Therefore, the market will be keenly watching the inflation print from the US tonight and the Fed’s message on Wednesday.

An important trend in the market is the accumulation happening in the fairly-priced segments like PSU banks and some leading private banks."

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Morning market Quote : These positive economic news is being strengthened by expectations of political stability after the 2024 General elections Says Dr. V K Vijayakumar, Geojit Financial Services

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