IGI Logo

Below is quote on Morning market 09 June  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

With the monetary policy coming on expected lines without any significant market impact, the focus now will be on the US inflation data and its implications for interest rates and equity markets. The fact that the trading volume in US markets is very low indicates that the market is waiting for direction. Big market moves are likely after the data is out.

In India, the near-term texture of the market is 'sell on rallies'. FPI's sustained selling has become almost predictable. Only a declining inflation rate in the US and the possibility of the Fed turning less hawkish than now can change the trend of FPI selling.

FPI selling in banking stocks has led to depressed valuations in this segment, particularly in high quality banking majors. This is an opportunity for medium- long- term investors.

Above views are of the author and not of the website kindly read disclaimer