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Below Quote On Morning Market 17 November 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

There are some important trends which will impact the market in the near-term. One, the big macro driver of this two day rally in the market - peaking and declining US bond yields - is very much in place. This will continue to impart resilience to the market. Two, the sharp decline in Brent crude to $ 77.5 is a positive for India’s macros and favourable for sectors that consume petroleum inputs like aviation, tyres and paints. Three, and this is a negative factor, the RBI action raising the risk weighting on unsecured loans is sentiment negative for financials."

It is important to understand that FIIs turning buyers is an important shift in tune with the declining bond yields in the US. In the near-term, IT, automobiles, telecom and construction-related segments will attract more buying since financials will see the temporary impact of the RBI action.