Morning Market Quote : Domestic economy-facing segments like financials Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 21 Septembar 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The overarching trend in the market now is India’s outperformance vis-a-vis other markets, particularly the mother market US. The big question is whether this outperformance can sustain. This is possible since the Indian economy and corporate earnings are outperforming. However, the risk is the high valuation in India- Nifty at 18000 is trading at 22 times FY23 earnings. If there is a sharp cut in the US market on recession fears triggered by sharp rate hikes or if the Ukraine war escalates, as some fear now, the Indian market too will be impacted. Otherwise, the outperformance can sustain. Domestic economy-facing segments like financials, autos, capital goods, telecom, cement and FMCG are on strong wicket."
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