Quote on Morning market 11 May 2021 By V K Vijayakumar, Geojit Financial
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Below are Quote on Morning market 11 May 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"A sell-off in tech stocks in NASDAQ yesterday might impact sentiments in early trade today. But it is unlikely to become a trend, given the reversal of domestic institutional selling witnessed from June 2020 through Feb 2021. During this period DIIs sold equity worth Rs 124172 crores. This trend is now getting reversed with buys of Rs 10299 crores in March & April 2021and this trend may continue in May since SIP inflows are robust. Meanwhile, the steady decline in fresh Covid cases during the last 5 days gives hope that the second wave will come under control soon. Leading private sector financials - banks, mortgage lenders, fintech companies - appear good buys on corrections"
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