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Below Quote On Morning Market 06 September 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"For the near term, there are mixed cues for the market. The negative factors are the surprising strength of the dollar index at 104.86, the resilient bond yields in the US (the 10-year at 4.26), and now, the Brent crude at $90. The spike in crude is a major macro concern. In this scenario, the FIIs are likely to continue selling in the cash market. On the positive side, the sustained DII buying is imparting strength to the market. DIIs have bought stocks worth Rs 5934 crores in the cash market during the last three trading days of September. Retail also is buying, and this ‘ buy on dips’ strategy has worked. The rally in IT stocks has contributed to the resilience of the market. IT and the fairly valued banking stocks, particularly the leading private banks, have the potential to support the market. But investors have to be cautious about the headwinds, particularly the rising crude."

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