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06-09-2024 05:29 PM | Source: Geojit Financial Services Ltd
Market Quote : SEBI Deadline Causes Panic; Long-Term FII Appeal Remains Strong says 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
"The domestic market was in panic today due to the SEBI's deadline over FIIs disclosure norm, however this is not expected to impact India’s lucrativeness to FIIs in the long-term. Coupled with lack of new market catalysts and elevated valuations, a muted trend is expected to continue in the short-term. Global markets are also adopting a cautious stance ahead of the release of the US non-farm payroll data. Additionally, the continuous decline in oil prices to a 14-month low and weak job openings data are heightening fears of a slowdown in the US in the near term."
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