Morning Market Quote :Amidst market weakness, banking stocks provide opportunities to buy Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Morning Market Quote from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"Some headwinds which have the potential to impact equity markets have emerged. One is geopolitical: the Iran-Israel skirmishes. The second is the concern that the rate cut expected from the Fed can be lower than three and that the first cut may come only in October. The US jobs data to be released today will throw more light on this.
The Middle East skirmishes have pushed up Brent crude to $91 and if oil continues to rise that can pose macro headwinds for India.
It is possible that the exuberant Indian investors DIIs flush with money may ignore the headwinds buy the dips imparting resilience to the market.
Amidst market weakness, banking stocks provide opportunities to buy. Data regarding deposit and loan growth from banking majors, particularly HDFC Bank are positive. Small finance banks data also indicate a healthy trend."
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Indian shares end lower; volatility at 15-month high
