Morning Market Quote : Even though the undercurrent of the market is bullish the high valuations Says Dr. V K Vijayakumar, Geojit Financial Services

15-09-2023 09:40 AM | Source: Geojit Financial Services

Morning Market Quote : Even though the undercurrent of the market is bullish the high valuations Says Dr. V K Vijayakumar, Geojit Financial Services

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Quote On Morning Market 15 September 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The participation of bluechips like Infosys, RIL, L&T, HDFC Bank and ICICI Bank has imparted resilience to the ongoing rally. Even though the undercurrent of the market is bullish the high valuations and new risks like surging crude and rising dollar index can impact the market negatively. Brent crude at $94 is a major macro worry which the market cannot ignore for long. The rising dollar index which has breached 105 and the attractive US bond yields (10-year at 4.28%) will force the FIIs to sell aggressively soon.

Even while remaining invested in this rally investors can consider some profit booking, particularly in the over-heated mid-and small-cap space. In the micro-cap segment, hope and momentum, not fundamentals are driving the rally."

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Morning Market Quote : Even though the undercurrent of the market is bullish the high valuations Says Dr. V K Vijayakumar, Geojit Financial Services

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