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Below Quote On Morning Market 04 September 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The economic data from the US confirms the soft landing narrative that has been driving equity markets globally. August unemployment in the US has risen to 3.8% and there is a softening trend in average hourly wages. This data suggests that the Fed is likely to hold rates in the September meeting. This is a favourable indication for global equity markets.

In India a large number of small caps, particularly the micro caps, are rising, mainly driven by market momentum. Many newbie investors are chasing such stocks for quick gains. Many of these stocks don’t have strong fundamentals and investment in these stocks can be very risky. At this juncture, long-term investors should prefer the safety of high quality large-caps."

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