The ferocity of the ongoing bull run is evident from the response of the US market By V K Vijayakumar, Geojit Financial
Below are Views On The ferocity of the ongoing bull run is evident from the response of the US market By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The ferocity of the ongoing bull run is evident from the response of the US market to the Fed announcement. The Dow, Nasdaq and S&P 500 spiked around 1% when the Fed indicated that " moderation in the pace of asset purchases may soon be warranted. " This bullish response to a mildly hawkish Fed is surprising but indicative of the strong bullish undercurrent.
The Fed has not given any timeline for tapering but it can be expected to begin as soon as November this year and a rate hike in 2022 looks a clear possibility.
The confusion even among smart money is evident in the off and on nature of FII and DII investment with FIIs turning sellers ( Rs 1943 cr) and DIIs turning buyers (Rs 1850 cr) in the cash market yesterday - a reversal of their position a day ago.
Meanwhile, the Evergrande crisis appears to be receding as of now. This bull market has been easily climbing all walls of worries surprising even diehard bulls. Now, we don't know how long the party will go on"
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