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Quote on Morning market 15th November 2021 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 15th November 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Partly justifying the market rally, corporate earnings have grown by 46 % YoY in Q2. The surge in earnings has been led by financials, metals & mining and oil & gas. But, even discounting this impressive performance by India Inc, the market is over-valued and, therefore, corrections are due.
Q3 is likely to be subdued compared to Q2. Headwinds from rising CPI inflation ( 4.48% in October) and a decline in IIP to 3.1% in September are likely to impact earnings in many segments in Q3 and Q4.
The global headwind for markets is likely to come from a sooner-than-expected rate hike by the Fed by, say, mid-2022 contrary to market expectation of a rate lift-off starting early 2023.
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