Morning Market Quote : The ongoing market rally is being driven mainly by two factors Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 12 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The ongoing market rally is being driven mainly by two factors: One, the steady decline in dollar index from above 109 to 105.26 now facilitating capital flows to emerging markets. Two, the return of FIIs into the Indian market, which has completely changed the market sentiments here. It is important to appreciate the fact that FIIs have made a complete turnaround in their strategy in India with sustained buying over the last 10 sessions. And yesterday's buy figure of Rs 2298 cr is the highest in several months. This, and the fact that India has the best growth story for this year and the next, will impart resilience to the market.
However, investors should exercise caution while chasing this rally since valuations are getting stretched.
Remain invested in high quality growth stocks ; don't chase 'cats and dogs'."
Above views are of the author and not of the website kindly read disclaimer
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