Morning Market Quote : Technically the market is poised to continue the ongoing Says Dr. V K Vijayakumar, Geojit Financial
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Quote on Morning market 31 October 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Technically the market is poised to continue the ongoing rally aided by support from the mother market US where the Dow’s 828 point point rally last Friday recorded fourth straight week of gains. The driving force behind the ongoing rally is the strength of the US economy which is indicating a lower probability of an immediate US recession and, more importantly, indications that inflation is plateauing and might show a declining trend soon. This might enable the FED to slightly moderate their hawkish stance. Already central banks of Canada and Australia have hiked rates below expectations. If this trend spreads, that will favour continuation of the rally in the short-term. The fact that FPIs have turned buyers during the last 2 days is another positive. However, DIIs might sell at higher levels since valuations are high."
Above views are of the author and not of the website kindly read disclaimer
Tag News
Trend reversal in FPI investment from buying in last 3 months to selling in Sep
