Morning Market Quote : During the last 5 sessions FIIs sold equity for Rs 10049 crores Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 01 March 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
There is a tug of war going on between FIIs and DIIs now. During the last 5 sessions FIIs sold equity for Rs 10049 crores; the DIIs matched this with buying for Rs 10200 cores. So, even though the institutional net buying is positive, the market has been trending down on negative sentiments and increasing short build up in the system. Retail/HNI activity is subdued unlike in the last 2 years. There are no positive triggers to take the market higher, but short covering may happen since the market is oversold. The only sensible investment strategy in this highly uncertain time is to slowly accumulate high quality stocks for the long-term, ignoring short-term volatility. Banks, capital goods and IT stocks can give good returns for the medium to long run.
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