The domestic market construct continues to be resilient Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 08 August 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
A significant near-term trend in the market now is the sustained selling by FIIs (Rs 10437 crores) during the last eight trading sessions matched by the sustained buying by DIIs (Rs 10860 crores) in the same period. It is important to understand that while FII activity is influenced by external factors like the Dollar Index and US bond yields, DII activity is predominantly determined by domestic factors like GDP growth and corporate earnings. In the near term the spike in the US 10-year bond yield above 4 % has triggered selling by FIIs who might be moving some money to US bonds.
The domestic market construct continues to be resilient. Thursday’s US CPI inflation print will be keenly watched by markets.
Above views are of the author and not of the website kindly read disclaimer
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