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Quote on Morning Market  02 January 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"There are mixed signals from the economy and markets as trading begins for the New Year. Robust GST collections at Rs 1.49 trillion indicate resilience of the economy and surveys among CEOs reveal that many companies are upbeat about hiring and capex in 2023. This augurs well for India’s economic outperformance again in 2023 and this can lead to market outperformance, too. However, since valuations continue to be high, there can be selling pressure particularly from FIIs, in the early days of 2023. Rising bond yield in the US (the 10-year yield is at 3.88 %) is negative. Investors should focus on beating the market in 2023. Market-beating returns can come from banking, capital goods and construction-related sectors."

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