Morning market quote : FIIs, too, have joined the party with a buy figure of Rs 1473 crores after five days of continuous selling in the cash market Dr. V K Vijayakumar, Geojit Financial Services.

12-09-2023 11:29 AM | Source: Geojit Financial Services

Morning market quote : FIIs, too, have joined the party with a buy figure of Rs 1473 crores after five days of continuous selling in the cash market Dr. V K Vijayakumar, Geojit Financial Services.

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Morning market quote from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

"Optimism regarding India�s growth prospects in a low-growth world and a fast decelerating China has triggered this rally enabling the Nifty to cross the psychological 20000 mark. FIIs, too, have joined the party with a buy figure of Rs 1473 crores after five days of continuous selling in the cash market. The fact that FIIs have made this purchase when the US 10-year yield is at 4.29 percent indicates that the FOMO (Fear Of Missing Out) factor is driving their decision.

The participation of the fairly valued large banking stocks and RIL make this rally healthy even when the overall market valuation is turning expensive. Investors should avoid the frothy segments of the mid-and small-caps. In the near-term the market is likely to consolidate around the present levels."

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Morning market quote : FIIs, too, have joined the party with a buy figure of Rs 1473 crores after five days of continuous selling in the cash market Dr. V K Vijayakumar, Geojit Financial Services.

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