Morning Market Quote from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
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Below the morning view on the market from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The main factor influencing the market today is likely to be the better-than-expected Q3 GDP growth number which has come at an impressive 8.4 %. However, it is important to note that the GVA has come on expected lines at 6.5%. The difference between GDP growth and GVA is due to the excellent 32 % growth in net indirect taxes.
Significant internals from the GDP numbers are the 11.6 % growth in manufacturing, the 9.5% growth in construction and 10.6 % growth in capital formation.
The impressive GDP numbers provide the fundamental support to the bull market. Large caps like RIL, Bharti Airtel, L&T and ICICI Bank have the potential to lead the rally. Tepid private consumption numbers will be a drag on consumer staples stocks like HUL.
The broad trend of the market, going forward, will be the outperformance of large caps over the broader market."
Above views are of the author and not of the website kindly read disclaimer
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