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

"Hawkish stance by the Fed, rate hikes by RBI, Bank of England and Australian central bank have created an atmosphere of risk-off for equities. We don't know how long this will last. Nifty corrected by 3.9 percent last week, but investors should not commit the mistake of aggressively buying on this dip assuming that prices have corrected a lot. Even after the correction Nifty is trading at around 19 times FY23 earnings. This is higher than the long-term average of 16 times and certainly not buyable valuation, particularly when equity markets globally are facing many headwinds like risk of growth slowdown, Ukraine war and supply chain disruptions caused by stringent lockdown in China. However, long-term investors may start nibbling at high quality stocks in segments like financials where there is valuation comfort"

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