Morning Market Quote : Investors should exercise caution since global growth slowdown is serious Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 03 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"FIIs turning buyers, short covering by the bears and active retail participation have led to 14 % recovery in Nifty from the June lows. This has pushed the market to overbought territory but continuation of FII buying may impart resilience to the market. However, investors should exercise caution since global growth slowdown is serious and this has the potential to impact exports from emerging markets like India. This is already visible in the July trade data. Additionally, the new tensions arising from Nancy Pelosis's visit to Taiwan and China's sharp reaction to that has emerged as an irritant. So, investors have to be cautious.
After the deserved run up in financials, segments like automobiles, particularly the PV and CV space, capital goods and segments in FMCG are now attracting informed buying due to their improving prospects."
Above views are of the author and not of the website kindly read disclaimer
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