Quote on Morning market 12 May 2022 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 12 May 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Inflation continues to be a major headwind for markets. Consumer inflation in the US in April coming at 8.3% reinforces market's concern about aggressive rate hikes by the Fed and the possibility of a US recession in 2023.
With dollar index at 104 and expected to strengthen further FIIs are likely to continue selling till Indian valuation becomes attractive. Even though DII buying is more than FII selling now, that is not enough to lift sentiments in the market since the macro headwinds are strong.
Market's preference for value over growth is reflected in the strength of high quality banking stocks which are even now at buyable valuations"
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