Morning Market Quote : Bank Nifty appears to be the strongest segment Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 26 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Even though markets are focused on what the Fed chief Jerome Powel will say at Jackson Hole today, his comments are unlikely to trigger a market trend. Market knows, and has discounted, a hawkish Fed. More important will be the trends in the economy like the employment numbers. On this front there is optimism like the latest US unemployment claims which have come lower than expectations. This indicates a tight labor market and strong economy. In brief, the possibility of a soft landing for the US economy is increasing. This is good news for the market.
Back home in India yesterday's 200 point correction from the peak in Nifty is due to expiry issues. This remains a 'buy on dips' market for the near term. Bank Nifty appears to be the strongest segment."
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