Quote on Morning market 21 April 2022 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 21 April 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Markets often overreact, both on the upside and downside. As sanity sets in, prices normalise. The stretched valuations of IT stocks, particularly in the mid-cap space, was the consequence of the market overreacting to excellent results and good earnings visibility. Slight disappointments in expectations swing the pendulum to the other side, depressing prices. Even though there is some margin pressure in IT, results of mid-cap IT stocks indicate that earnings momentum is strong.
Similarly the relentless selling in HDFC twins by FIIs and shorting by bears who swim with the FII current have created another case of overreaction depressing prices to fundamentally unjustifiable levels.
Short-term overreaction and corrections in valuations are opportunities for discerning long-term investors".
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