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Below is Quote On Morning Market 18 April 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The important near-term question in the market now is whether Nifty can recover from the 121 point cut yesterday and resumption of FII selling. It is important to appreciate the fact that the market was dragged down by the IT pack with Infosys alone contributing 138 points to the cut in Nifty. This means, if we exclude the IT segment the market is resilient. An important likely consequence of the expected disappointing results of the IT stocks in FY 24 is the inevitable sectoral rotation that is already underway. Since the prospects of banking, FMCG, construction, pharma and capital goods appear good, money is likely to move into these segments. This sectoral rotation will give profitable investment opportunities. Also lots of stock-specific actions cutting across sectors are likely in response to the Q4 results and commentary.

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