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Below is quote on Morning market 2nd November 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The 258 point surge in Nifty yesterday, despite massive sustained selling by FIIs for several days, has again proved that FII selling can impact the market only in the short run. The retail and DII enthusiasm is getting fundamental support from positive economic data like record GST collections (Rs 1.3lakh cr in October), PMI at 55.9 in September and better than expected Q2 results.An important event that can influence financial markets globally is the FOMC meet starting today. The Fed is widely expected to announce tapering its bond buying program starting this month. More important than the tapering announcement, which is already discounted by markets, will be the Fed's response to inflation and the likely cues on rate hikes. If indications of an earlier than expected rate hike comes from the FOMC meet, that can be negative for markets. Otherwise markets may continue to be resilient"

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