Morning Market Quote : The resilience of the domestic market even in the context Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 06 September 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The resilience of the domestic market even in the context of strong global headwinds is a bit surprising. Clearly, India is outperforming the rest of the world. While the S&P 500 is down 18% this year, Nifty is up by 1.8%. Retail investor enthusiasm - directly and through SIPs in mutual funds - has supported the market successfully shielding it from the onslaught of sustained FPI selling from October 2021 through June 2022. In this context, the total demat accounts in India crossing the 10cr mark in August is indeed, a proud landmark.
However, retail investors directly investing in the market should not commit the mistake of chasing low-grade cheap stocks. High quality large-caps will outperform when the market turns weak.
Presently, the market is driven by momentum and bulls are in control. Bank Nifty is on the verge of a break-out and has fundamental support."
Above views are of the author and not of the website kindly read disclaimer
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