Morning Market Quote : The elevated valuations do not justify further run up in markets Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 18 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The market momentum which pushed the Nifty up by 18% from the June lows is likely to face some headwinds from now on. The sudden sharp spike in the dollar index to 107.6 will impact capital flows to emerging markets like India. The consistent FII buying seen in August is likely to lose steam impacting sentiments. The elevated valuations do not justify further run up in markets. Some profit booking and diversion of money to fixed income may be considered as a short-term strategy. Buy on dips can be considered in high quality financials, leading names in capital goods and autos."
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