Quote on Morning market 01st October 2021 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 01st October 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The risk-off in equity markets has gathered momentum with sharp cuts in the mother market of the US. The Dow and S&P500 are now more than 5% off from their record highs. Markets, globally, have turned weak.
In India too there are indications of a correction. The leader of this rally, IT, is showing signs of exhaustion. When the leader turns weak, the resilience of the market will be tested. Sustained FII selling is another negative signal. The 'buy on dips' strategy that has been playing out well since April 2020 may not work so smoothly, going forward. Strengthening of the dollar index (now at 94.30) is negative for emerging markets. If the index rises to 95, there can be big capital outflows.
The risk-reward ratio now is clearly against reward. Investors have to be cautious. Some portfolio rebalancing in favour of defensives & fixed income may be considered"
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