Quote on Morning market 07 January 2022 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 07 January 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The spike in the volatility Index India Vix by 4.35%, renewed big FII selling (Rs 1927cr) after 4 days of consecutive buying and the US 10-year bond yield spiking to 1.71% indicate imminent volatility and uncertainty regarding short-term trends. While the tightening global monetary backdrop is a concern for equity markets, the improving corporate earnings scenario and the resilience of retail investors and DIIs are positive.
An important trend in the market is the resilience of the mid and small-cap segments where there is no FII selling and the weakness in banks and IT where FIIs have been selling. The takeaway is that the moment FII selling stops, IT and banks will bounce back.
Short-term trend is highly uncertain. Long-term investors can use corrections to buy large-cap IT and leading banks"
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