Quote on Morning market 15 June 2022 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 15 June 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"More than the quantum of the rate hike (50 or 75 bp) it would be the message from the Fed in today's policy announcement that would determine the market direction. The market is prepared for a 75bp rate hike and, therefore, that decision, if it comes, is unlikely to rattle markets.
In India, relentless FPI selling is the major negative. With dollar index above 105 and US 10-year bond yield at 3.46 %, FPIs are likely to continue selling, pulling the market down from every rally. A sustained upward move in the market is possible only when the FPIs substantially reduce selling. The only sensible investment strategy in this scenario is to slowly accumulate high quality stocks whose prices are depressed not because of poor fundamentals, but sustained FPI selling."
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Trend reversal in FPI investment from buying in last 3 months to selling in Sep
