Market quote : A strong bounce back due to bottom fishing was short-lived as caution prevails in the market by Vinod Nair, Head of Research, Geojit Financial Services
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Below The Quote on Market by Vinod Nair, Head of Research, Geojit Financial Services
"A strong bounce back due to bottom fishing was short-lived as caution prevails in the market. Investors tend to use every opportunity to book profit amidst consistent FII selling and weak Q2 earnings. Profit booking was also seen ahead of the upcoming Maharashtra state election. The recent correction in valuation suggests a potential pause in further price erosion. However, the recovery will depend on an uptick in earnings which is likely to rebound due to the likely spurt in central and state expenditure in H2."
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