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Below is quote on Morning market 31 May  2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The pullback in the market has been sharply assisted by smart bounce in large-caps across sectors. The recovery in beaten down IT stood out. A significant development in the market is the selling exhaustion  by FPIs of recent days turning into FPI buying of Rs 502 crores. It remains to be seen whether this trend will sustain.

The dominant factor determining the market direction, going forward, would be the trend in the US market, which, in turn, would be determined by the inflation in the US and the Fed's response to it. The recent rally has been supported by expectations that inflation is peaking out and, therefore, the Fed wouldn't have to hike rates as aggressively as the market feared.

A major headwind for the Indian economy and markets is crude spiking above $120 on EU sanctions on Russian oil.
Financials can remain resilient even in a choppy market."

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