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Quote on Morning market 26 Septembar  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The global macro construct is not favourable for equity markets in the short run. The dollar index above 113 and the US 10-year yield at 3.73 % is likely to aggravate FPI outflows which have been gathering momentum during the last 3 days. The probability of a global recession is also increasing since the Fed continues to be ultra hawkish. The 5% cut in MSCI World Index last week indicates the bearish undertone of global equity markets. In this scenario the buy on dips strategy which worked since the June lows need not work now. Investors have to be cautious and remain vigilant. However, India will outperform both in economic growth and market performance. Therefore, selective buying can be done in domestic economy-facing segments like financials, autos, capital goods and select FMCG on sharp market declines."

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