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Quote on Morning Market 03 January 2024 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"Market has turned highly volatile with profit booking triggered by high valuations. Even DIIs who have been consistent buyers are booking profits. Buying on dips also is happening simultaneously. These twin moves of profit booking and dip buying will keep the market highly volatile in the near-term. An important trend in the market is the renewed buying in pharmaceuticals. Further buying can be expected in this segment. The Supreme Court judgement on the Adani- Hindenberg issue expected this morning will have a sentimental impact on the Adani stocks in particular and the overall market in general.
Long-term investors can buy the fairly-valued largecap private banking stocks which have the potential to outperform the Nifty this year."

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