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Quote on Morning market 28 October 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The near-term market construct is clearly ‘advantage bulls.’ There are many factors going in favour of the bulls like strong Q3 GDP numbers (2.6%) in the US, easing recession fears, indications of declining inflation and expectations that Fed might pause rate hikes in Q1 of 2023. In India, even though valuations look high from the short- term perspective, there are favourable factors that can take the market higher. The important positive is the decline in US 10-year bond yield to below 4% which will persuade the FPIs to buy rather than sell in the near-term. The encouraging Q2 results will provide fodder to the bulls. Nifty is already up by 6% in October and the trend looks set to continue. The resilience of banking, select autos, capital goods and telecom might continue."

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