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Quote on Morning market 11 October 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The global environment continues to be weak for markets with concerns of a US recession and possible hard landing rising. Clarity is yet to emerge on this. India’s market outperformance continues with Nifty declining less than 0.5 % yesterday in response to near 4% cut in Nasdaq on Friday. A significant factor contributing to this outperformance is that FII selling is getting completely absorbed by DII and retail buying. So even if FIIs continue to sell on rising dollar and US bond yields, that is unlikely to have a significant impact on markets. More important, the fundamentals of the Indian economy and corporates continue to be sound.

The Q2 results season has started off well with decent numbers from TCS which have beaten street estimates on most parameters. This and the news of buy back from Infosys will impart resilience to the IT segment. Financials too will come out with good numbers imparting strength to the market in the near-term."

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