07-10-2024 09:19 AM | Source: Geojit Financial Services
The Indian market has been following a different path with the Nifty declining 4.5% in a week. This sharp correction has been mainly triggered by the massive FII selling in the cash market which reached Rs 40509 crores during the last four days. Leading largecaps like RIL, HDFC bank and ICICI bank which are major holdings in the AUM of FIIs bore the brunt of the FII onslaught. This correction is an opportunity for long-term investors since the valuations of these stocks are fair and prospects look good. DIIs flush with funds will continue to buy the beaten down quality stocks."
Morning Market Quote : Globally stock markets have been resilient despite the escalating tensions in the Middle East Says Dr. V K Vijayakumar, Geojit Financial Service
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Below the Quote on Morning Market from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"Globally stock markets have been resilient despite the escalating tensions in the Middle East. A big positive for equity markets is the strong US economy where the September non-farm job numbers have come surprisingly robust at 2.54 lakhs. The combination of a strong economy and declining inflation in the mother market of the US is a big positive.
Above views are of the author and not of the website kindly read disclaimer
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On the daily chart, the index is exhibiting conflicting signals at the current juncture - Tradebulls Securities Pvt Ltd
PSU bank index is hovering around key support and expected to attract supportive efforts near their long term mean - ICICI Direct
Nifty opened with a downward gap and witnessed pullback rally at lower levels however selling pressure at higher levels - Jainam Share Consultants
More News
Nifty closed at 22147 with a gain of 151 points - Jainam Share Consultants
Post market comment by Mandar Bhojane, Research Analyst, Choice Broking
Index has support at 22150 - 22100 level and resistance at 22500 - 22550 level - Monarch Networth Capital Ltd
Nifty opened with an downward gap but witnessed buy ing from the opening tick to end positive - Jainam Share Consultants