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Quote On Morning Market 31 March 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

In the absence of near-term cues, the market is likely to remain range-bound for some days before taking a new direction. Cues from the mother market US on inflation, the Fed response and the banking crisis related news will weigh on markets in the near-term. With FIIs turning buyers yesterday, 16800 Nifty level is unlikely to be broken on the downside now. Expect a range-bound market for the near-term. The recent correction has made valuations for the broader market attractive. Nifty Smallcap index and Nifty Midcap index are down around 10% and 6% respectively in the last three months. For long-term investors this is a good opportunity to invest in Small and Midcap mutual funds through SIPs. In large-caps, HDFC twins and RIL exhibit strength.

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