Morning Market Quote :FIIs turning buyers is a bullish signal for Indian equity market Says Dr. V K Vijayakumar, Geojit Financial
Quote on Morning market 06 July 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"There are lots of signals from markets: Brent crude crashed to near $100 a barrel, dollar index rose above 106, rupee again depreciated to an all-time low, euro is at 20-year low to the dollar and, perhaps most importantly from Indian market perspective, FIIs turned buyers after a long gap. While crude crash along with corrections in other commodities like metals is a bearish signal indicating increasing possibility of recession in the US, commodity crash is positive for the Indian economy and FIIs turning buyers is a bullish signal for Indian equity market.
It is important to watch whether these signals are one offs or will they sustain.
With valuations reaching fair levels, investors can buy high-quality stocks in a calibrated manner. Stocks that FPIs sell like financials and IT are good segments to bet now."
Above views are of the author and not of the website kindly read disclaimer
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