Morning Market Quote : FIIs turning buyers in December, in total reversal of their sustained selling strategy during the last two months Says Dr. V K Vijayakumar, Geojit Financial Services
Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
FIIs turning buyers in December, in total reversal of their sustained selling strategy during the last two months, has altered the market sentiments in favour of the bulls. Encouraged by the FII buying, retail investors, too, have jumped on to the buying bandwagon. This has triggered short-covering leading to sharp intra-day volatility. The 500 point swing in Nifty from the peak to the trough yesterday indicates a tug-of-war between the bulls and the bears. The best strategy in this volatile context would be to remain invested with higher weightage for largecaps, where there is valuation comfort. The policy response of the RBI and the central bank’s commentary on the growth and inflation outlook will be keenly watched by the market today.
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