Morning Market Quote :There is a trend of selective bottom up stock picking in the broader market Says Dr. V K Vijayakumar, Geojit Financial
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Quote on Morning market 23 Septembar 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The global risk-off is gaining strength aided by the steadily rising dollar. Dollar is rising against all currencies and this will impact capital flows into emerging markets including India. Resumption of FPI buying since July has been supporting the rally in India. Now this is under threat with FPIs turning sellers in 5 out of the last 7 days. FPIs are unlikely to buy consistently when the US 10-year bond yield is above 3.7% and the dollar index is above 111. The near-term market outlook is bearish. Investors may wait and watch before committing more money. There is a trend of selective bottom up stock picking in the broader market. This trend is likely to continue even when the headline indexes turn negative."
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Trend reversal in FPI investment from buying in last 3 months to selling in Sep
