Morning Market Quote : The market which are significant One the volatility index Says Dr. V K Vijayakumar, Geojit Financial Services
Quote On Morning Market 26 April 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
There are three indicators from the market which are significant: One, the volatility index, India VIX is at 11.52, near three-year lows. Two, sustained FPI selling in the earlier months of this year has stopped and FIIs have turned buyers this month, though moderately. Three, India’s premium to MSCI World Index is down to 15% indicating removal of froth in valuation. The takeaway from these three indicators is that there is no significant downside to the market in the near-term. There are no triggers for a sharp up move either. So the possible near-term trend is a range-bound movement, within which there can be sharp responses to Q4 results and management commentary.
Data on US inflation and GDP expected this week will have an impact on global markets and on India, too. Results of US tech majors have been good. If the US disinflation trend indicates a steady decline, that can be positive trigger for equity markets globally.
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