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Quote On Morning Market 14 February 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Uncertainty about the market trend continues. The new concern is the reversal of the declining inflation trend observed in December. The January CPI number at 6.52 % spiking from 5.72% in December is a big negative. The MPC will have to raise rates again in the April meeting. FPIs have again sold yesterday ( including the Coforge block deal of around Rs 2400 cr) to the tune of around Rs 1078 crores. They may continue to sell on rallies. India’s underperformance in 2023, so far, is striking. We have underperformed both developed markets like US and Europe and large emerging markets like China, Hong Kong and South Korea. Investors may exercise caution and wait patiently for this underperformance phase to play out.

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