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Quote on Morning Market 16 November 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Bullish momentum continues in the market. A good indicator of the bullish sentiments is the decline in the volatility index VIX from above 18 in October to around 14.6 now. The US CBOE VIX also is on a downtrend. This, along with steadily falling US yields strengthens the bullish construct for equity markets. Since the Nifty is only around 1% away from all-time highs a final dash to a new record can happen anytime. Profit booking and correction is likely after that. Since the drivers of the current rally are high quality large-caps particularly in banking and IT, mid and small-caps are unlikely to participate in the ongoing rally. Investors may stick with quality. Two Russian missiles landing in Poland killing two civilians has emerged as a new near-term concern whether it will escalate the Ukraine war."

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