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Morning Market Quote : It appears that the market is in a similar state while approaching a new all-time high Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 17 May 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
As a batsman approaches a century, he might get stuck for a while in the ‘nervous nineties’. It appears that the market is in a similar state while approaching a new all-time high. Even though the conditions are favourable for a new record there are near-term issues like the US debt ceiling impasse which can weigh over global markets in the near-term.
Relentless FPI buying, declining inflation, the market momentum and good results from the rally-leader financials can sustain this rally even with occasional corrections. The near-term uncertainty makes the market direction a bit confusing but for long-term investors this is a good ‘buy on dips’ market.
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