Morning Market Quote : Investors should exercise caution for the near term and wait for the market to consolidate Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 14 August 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The market construct has turned a bit negative. The spike in the dollar index to 103 and the U.S. 10-year bond yield rising to 4.18 are negative for capital flows to emerging markets. The FPI sell figure of Rs 3073 crores last Friday is in tune with these negative trends.
The Bank Nifty has been a pressure point for the markets during the last several trading days. The RBI decision to raise the CRR of banks to neutralise the excess liquidity created by the withdrawal of Rs 2000 notes has added to the negative sentiments in the banking sector. However, leading banking stocks would be good bargain buys on market corrections since the fundamentals of the sector remain strong and valuations are fair.
Investors should exercise caution for the near term and wait for the market to consolidate.
Above views are of the author and not of the website kindly read disclaimer
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