Morning market quote : An important trend in the market is the increasing clout of DIIs Says Dr. V K Vijayakumar, Geojit Financial Services

16-11-2023 10:49 AM | Source: Geojit Financial Services

Morning market quote : An important trend in the market is the increasing clout of DIIs Says Dr. V K Vijayakumar, Geojit Financial Services

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Below Quote On Morning Market 16 November 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"An important trend in the market is the increasing clout of DIIs, HNIs and retail investors and the diminishing influence of FPIs. During August, September October and November till date FPIs cumulatively sold stocks for Rs 83422 crores through the exchanges. During this period DIIs alone bought stocks worth Rs 77995 crores. FPI selling is completely getting neutralised by DII and individual investor buying. This is the reason why Nifty is around 19675, the same level which it was in early August.

The resilience of the market and strong up moves on favourable days like yesterday have forced a rethinking in FPI strategy. That’s why they bought for Rs 550 crores yesterday after sustained selling in all other days of November.

FIIs turning buyers is favourable for banking stocks, particularly the large caps, which are attractively valued. Automobiles are on a strong wicket."

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Morning market quote : An important trend in the market is the increasing clout of DIIs Says Dr. V K Vijayakumar, Geojit Financial Services

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