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Quote on Morning market 17 August  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Experts disagreed on whether the ongoing rally is a bear market rally or the beginning of yet another bull market. The majority who believed that this is a bear market rally has been decisively proved wrong by the ferocity of the rally which has taken the Nifty to mere 4.3% away from the all-time high. It is important to appreciate the fact that there is global support to this rally with S&P 500 and Nasdaq bouncing back by 18  and 24% from their June lows. Declining US inflation, confidence that the Fed need not have to aggressively raise rates and the increasing probability of a soft landing of the US economy are supporting this rally. In India, steadily declining inflation, strong growth momentum in the economy and FIIs turning consistent buyers are driving  the rally. Even though valuations are high it makes sense to remain invested and buy on dips."

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