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Below is quote on Morning market quote By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

In the 2 day correction in the market Nifty has lost 350 points. More importantly, higher corrections have happened in the large-caps with the broader market holding on. A significant trend is that FPIs have been continuous sellers in the last six trading sessions with a cumulative sell figure of Rs 7990 crores. With the 10-year US bond yield spiking to 4.16%, the FPIs may continue to sell or at least refrain from buying aggressively. The positive factor is that the DIIs are buying aggressively more than compensating for FPI selling. During the last six sessions DIIs have bought stocks for around Rs 9000 crores.

Investors may take cues from Warren Buffet’s response to the Fitch downgrade that, “ There are some things that people should not be worried. This is one.”
This is the time to nibble at high quality large-caps, particularly in banking, capital goods, construction and autos.

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