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Below Quote On Morning Market 18 August 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Globally stock markets have declined this month. In the mother market US the S&P 500 is down by 4.25%. This pull back has been triggered mainly by the rising dollar and spiking US bond yields in the US, which, in turn, is in response to the view of most Fed officials that the Fed will have to tighten rates more to rein in inflation.

Nifty is down 3% from the July peak of 19979, moving in sympathy with the global cues.

There are no immediate triggers that can lead to sharp rebound in the market. Further weakness in the market will make valuations reasonable. Long-term investors can utilise market corrections to buy high quality stocks in growth sectors like capital goods, banking, automobiles and construction."

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