The FII buying support to the rally continues with an investment of Rs 7272 crores Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 19 June 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The ongoing rally scaled new closing highs last Friday and is now within sight of a new all-time high, which is 18887 for the Nifty. There are two significant trends in the market now: One, this rally is broad based with the participation of most sectors except large-cap IT. Two, mid and small-caps are outperforming large caps. This trend is likely to continue in the near-term.
The FII buying support to the rally continues with an investment of Rs 7272 crores during the last 4 trading days. This strong FII buying has strengthened the bulls and made the buy on dips strategy successful.
A new all-time high is only a matter of time. The only concern now is the poor performance of the monsoon, so far.
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