Morning Market Quote : The ongoing market rally is primarily driven by the sudden reversal Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 13 Septembar 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The ongoing market rally is primarily driven by the sudden reversal of FII strategy: from relentless sellers to relentless buyers. Retail investor support and fundamental support to the market from a strong economy are aiding the rally. Now, this has become a classic momentum driven market which has the potential to take the indices to new record highs soon. FOMO factor ( since this rally was mostly unexpected) and short covering can aid the market momentum further.
FII buying is all set to continue since the dollar index has declined to 108. Bank Nifty is likely to be the first sector to touch new record highs since the segment has strong fundamental support and FIIs have turned big buyers in financials. Due to the FOMO factor, the small-cap segment is likely to catch up in this rally."
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Tag News
Trend reversal in FPI investment from buying in last 3 months to selling in Sep
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