Morning Market Quote : The steady buying by FIIs even in the midst of strengthening Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 24 August 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The steady buying by FIIs even in the midst of strengthening the Dollar is significant from the market perspective. There is a near consensus now that India will be an outperformer in the deteriorating global growth environment. So, FII inflows will be more country specific rather than emerging market oriented.
The near-term market trend will be influenced by the observations of the Fed Chief Jerome Powell on Friday. If the Fed Chief sounds ultra-hawkish, that would be a dampener for markets. On the other hand if he sounds optimistic on the growth front and on containing inflation that would be a bullish message.
Financials and capital goods continue to be investable segments. IT valuations are attractive."
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