Morning Market Quote : Medium to long-term investors can buy high quality banks Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 22 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Market is delicately poised with higher downward risk. The sustained FII buying is positive. But FIIs are unlikely to buy aggressively in the present context of rising dollar. The dollar index is back above 108 and the US 10-year bond yield is at 2.99%. This is negative for capital flows to emerging markets.
India's impressive GDP growth and favorable leading indicators in the context of global growth slowdown have the potential to attract more FII flows but the rising dollar and bond yields are strong headwinds.
Investors have to exercise caution. Medium to long-term investors can buy high quality banks on declines. Capital goods and autos are on a strong wicket."
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