13-09-2023 10:34 AM | Source: Geojit Financial Services
Morning market quote : Market experts have been repeatedly warning of froth in the mid-and small-cap segments says Dr. V K Vijayakumar, Geojit Financial Services.
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Morning market quote from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"Market experts have been repeatedly warning of froth in the mid-and small-cap segments. And, the fear of sharp correction in this space has finally happened with 4.10 percent correction in the Nifty Small-cap index and 3.07 percent correction in the Nifty Mid-cap index. Even after this correction, fundamentals do not support the valuations in these segments. Therefore, more pain is likely.
On the other hand, high quality large-caps in banking, capital goods and IT are on stronger wicket. More selling in the broader market and buying in large-caps is likely in the near-term.
Even though the undercurrent of the market is strong, fundamentals do not support a sustained rally. Crude at $92 is a big macro concern. The market is ignoring this headwind."
On the other hand, high quality large-caps in banking, capital goods and IT are on stronger wicket. More selling in the broader market and buying in large-caps is likely in the near-term.
Even though the undercurrent of the market is strong, fundamentals do not support a sustained rally. Crude at $92 is a big macro concern. The market is ignoring this headwind."
Above views are of the author and not of the website kindly read disclaimer
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