02-01-2025 10:37 AM | Source: Geojit Financial Services Ltd
Morning Market Quote : Leading indicators available so far do not indicate a pick up in economic growth Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Morning market views from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"Leading indicators available so far do not indicate a pick up in economic growth. GST collections for December have declined 2.97% MoM indicating continuation of the slowdown. Therefore, Q3 corporate earnings are unlikely to register a rebound. This means investors have to focus on segments which will buck the slowdown like IT, pharma and to some extent financials. Luxury consumption like hotels, jewellery and aviation also are likely to post good results.
FIIs are likely to continue with their selling strategy since the dollar remains strong and the U.S. bond yields are attractive enough for FIIs to ignore emerging markets in the near-term.
While DII buying can support the market at lower levels, that is not sufficient to take the market higher. For higher market levels we will have to wait for indications of growth and earnings recovery."
Above views are of the author and not of the website kindly read disclaimer
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