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06-11-2024 10:27 AM | Source: Geojit Financial Services Ltd
Morning Market Quote : Market Rebound Signals End to Recent Downtrend Amid Strong Recovery Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote on Morning Market Quote by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The sharp rebound in the market yesterday indicates a halt to the downward trend witnessed during the last many days. The fact that the rebound is being led by fairly-valued and fundamentally strong large banking stocks is important and points to the possibility of the continuation of the trend. However, the poor earnings growth in Q2 and earnings downgrades for FY 25 are headwinds that will constrain a sustained rally. What is likely is stock-specific action in response to results, guidance and expectations. Investors can utilise the market rallies to move from high-priced mid and smallcaps to the safety of largecaps.
The noise and action related to the US elections will last only for a few days, after which economic fundamentals will determine the direction of the market trend."
Above views are of the author and not of the website kindly read disclaimer
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