Morning market quote : Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations Says Dr. V K Vijayakumar, Geojit Financial Services

11-12-2023 09:46 AM | Source: Geojit Financial Services Ltd

Morning market quote : Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations Says Dr. V K Vijayakumar, Geojit Financial Services

News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #GeojitFinancialServicesLtd #DrVKVijayakumar

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Below Quote On Morning Market 11 December 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations. FIIs turning buyers, strong DII inflows, exuberant retail investors and a thriving IPO market supported by strong economic fundamentals can sustain the rally in the short run ignoring the high valuations. The overarching message from the RBI on Wednesday was that 7percent GDP growth for FY 24 is a conservative estimate. This is an indication of the growth momentum in the economy.

A significant trend in the market is the outperformance of the Bank Nifty over the Nifty. Last week while the Nifty appreciated by 3.5 percent, Bank Nifty shot up by 5.5 percent. This outperformance is likely to continue, given the fair valuations of banking stocks, particularly the leading names.
For the overall market safety is now in large caps."

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Morning market quote : Global and domestic cues favour continuation of the ongoing rally in the market despite high valuations Says Dr. V K Vijayakumar, Geojit Financial Services

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