Quote on Market by Vinod Nair, Head of Research, Geojit Financial Services
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Below the Quote on Market by Vinod Nair, Head of Research, Geojit Financial Services
"The bearish sentiment continued as investors are monitoring the escalating conflict in the Middle East and have adopted a sell-on recovery strategy. Crude prices have moved up sharply but may be restricted due to an increase in production from OPEC+. The drag was across sectors led by realty, auto, and FMCG except IT stocks, which gained due to expected benefits from US rate cuts and defensive nature. The pessimism on the market is expected to continue in the near term amidst rising crude prices and fund flows to cheaper markets like China."
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