Morning Market Quote from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

2024-02-29 12:11:37 pm | Source: Geojit Financial Services Ltd

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 market has suddenly turned unpredictable amidst high volatility. Resistance has become strong at Nifty 22200 level. The cut in Nifty by more than 1% yesterday despite the FII selling getting neutralised by DII buying is significant. This is due to rebalancing of the positions a day ahead of the monthly expiry. The volatility will continue today, too, being the last day of the monthly expiry. Investors may wait for the volatility to subside.

A significant development is the communication from SEBI to AMFI suggesting that mutual funds set up a framework for protecting investors in mid and small cap funds. Sustained flows of retail money into these funds have made their valuations excessive and difficult to sustain. More mid and small cap funds are likely to impose restrictions on lump sum investments into the mid and small cap schemes. This will benefit the large caps which are relatively fairly valued now. The correction in the broader market is likely to continue."

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Morning Market Quote from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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