Quote on Morning market 06th September 2021 By Dr. V K Vijayakumar, Geojit Financial
Below is quote on Morning market 06th September 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Some negative economic news is likely to turn out to be positive for markets in the very short-term. The US jobs data - only 2.35 lakh jobs added in August against the expectation of above 7 lakhs - support the Fed's claim that "there is much more ground to cover" before rates are revised upwards. So, even tapering expected by this year-end is likely to be a 'taper without tantrum'. The dollar index hovering around 92.16 is likely to support fresh FII inflows. This, along with sustained DII investment and active retail buying can impart resilience to the market even at high valuations. Fresh highs are likely driven by the strong uptrend in RIL and renewed buying in banking stocks. The ideal strategy in this bull market is to remain invested with occasional partial profit bookings and moving some profits to fixed income"
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