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Morning Market Quote: FII selling getting completely overwhelmed by DII buying Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 19 October 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
There are two factors supporting the ongoing rally in the market: One, support from the mother market US aided by some excellent quarterly results and two, FII selling getting completely overwhelmed by DII buying. DIIs bought stocks for Rs 5290 crores in the cash market during the last 3 trading days against FII selling of Rs 1536 crores. This complete dominance of DIIs over FIIs is triggering short covering too. Good Q2 results are imparting resilience in segments like IT and financials. The festive mood is another positive.
However, high global inflation and tightening central banks pose headwinds to the rally
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