Quote on Morning market 14th October 2021 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 14th October 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Strong results from Infy, Wipro and Mindtree indicate that the market disappointing results from TCS was a one off. Even though high attrition is a challenge for the sector, strong deal wins and robust demand are clear positives. IT is likely to resume its leadership position since the prospects for the sector look bright for the next many years on the back of accelerating digitization by businesses globally. Strong performance of HDFC Bank indicates good Q2 results and the banking major joining the bull rally. Globally, inflation continues to be a worry and continuing disruption in global supply chains is an area of concern.
The FOMC minutes indicate that Tapering is on course, possibly starting November and ending by mid-2022. Since this is a known event markets are likely to discount it before the actual announcement.
Since there are no known triggers for a sharp correction in the short run and the market momentum continues to be strong, the exuberant retail investors are likely to drive the markets further up even though seasoned investors are worried about the excessive valuations"
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