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Quote on Morning market 05 July  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The market lacks clear direction and this trend can be expected to continue in the context of high uncertainty in the global economy. There are no clear indicators yet on whether the US economy will slip into recession and how serious the ongoing global growth slowdown will be. Elevated crude and high inflation will continue to drag on markets.
The recent correction has made valuations fair but not yet attractive enough for aggressive buying. Leading financials continue to be safe buys. Moderation in commodity prices and improvement in chip availability bode well for autos.
Market resilience in July indicates that a close above Nifty 16000 can lead to a near-term rally. Financials, autos and IT have the potential to drive such a probable rally."

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