Morning market quote : An important feature of the near-term market is the weakness of the broader market Says Dr. V K Vijayakumar, Geojit Financial Services
Below Quote On Morning Market 25 October 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The uncertainties associated with the Israel-Hamas conflict will continue to weigh on markets in the near-term. Positive news like decline in the US bond yields and weakening crude can help the market to revive but it may not sustain given the uncertainty surrounding the West Asian conflict. Investors may opt for a cautious approach to the market till some clarity emerges on the geopolitical situation.
An important feature of the near-term market is the weakness of the broader market. On Monday when the Nifty corrected by 1.3 percent, Nifty Smallcap crashed by 3.9 percent. Since the valuations in mid and small cap space is higher than that of large caps, this weakness is likely to persist. Safety is now in large caps particularly in banking majors which are fairly valued."
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