Morning Market Quote : Even though valuations are high it appears that this rally has more steam to go up Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 12 Septembar 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The most important bullish factor that has caused and is sustaining India's market outperformance is the strong growth recovery underway in India now. RBI's report which puts bank credit growth now running at 15.5% is an endorsement of this fact. Bank Nifty which has outperformed Nifty by 11% is a reflection of this strong undercurrent in the banking segment. Even though valuations are high it appears that this rally has more steam to go up.
While financials will continue to be resilient some sector rotation can be expected at this juncture. The beaten down IT segment may participate in a pull back rally."
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