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Quote on Morning Market 27 December 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Major part of the 320 point cut in Nifty on Friday has been reversed by the 207 point rally yesterday. Covid scare played an important role in the correction on Friday which saw sharp cuts on banking and hotel stocks and rally in pharma stocks. This trend has reversed with Covid fears receding now. Looks like 2022 is heading for a less volatile end. The New Year is likely to begin on an optimistic note with Q3 results and budget expectations influencing market moves. Results from the banking and capital goods segment would be good since bank credit growth and capex are the two strong themes in the economy now. Banking majors have the potential to move up further from present levels. In IT investors would be keenly watching the guidance from the management rather than the Q3 results which will be good."

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