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Below Quote On Morning Market 04 October 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Global cues are negative for markets in the near-term. The sustained rise in the US bond yields, which has triggered continuous FII selling, is showing no signs of abating. The dollar index is now clearly above 107 and the US 10-year bond yield is at 4.83%. This means FIIs will continue to sell and the bulls will be on the back foot. On the positive side, valuations in some segments are becoming attractive and this may push DIIs and retail investors to buy stocks in such segments. An inevitable consequence of this complex situation is heightened volatility.

Investors should watch out for stocks which look strong even in a weak market. Stocks like Bajaj Finance, L&T and Zomato have been exhibiting strength even in a weak market.

A significant trend in the market is that fundamentally strong stocks like large cap private sector banks have turned weak on FII selling. For long-term investors, this is an opportunity."

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