Morning Market Quote : Nation Pays Homage to Manmohan Singh, Architect of Liberalization Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

2024-12-27 09:21:08 am | Source: Geojit Financial Services Ltd

Morning Market Quote : Nation Pays Homage to Manmohan Singh, Architect of Liberalization Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

"As the nation pays homage to Manmohan Singh, the architect of liberalization in India, investors must be acknowledging with gratitude the wealth created by the Indian stock market after the initiation of liberalisation in 1991. Sensex which was around 1000 in 1991 has multiplied about 780 times since then to trade above 78000 now delivering excellent returns to long-term investors. The market will continue to deliver superior returns to investors in the years to come since the India Growth Story, which liberalisation triggered, is very much intact.

Meanwhile, short-term bumps on the economic growth path will cause corrections and market volatility like what we are witnessing now. The strongest headwind for the market now is the FII selling triggered by strong dollar (dollar index staying above 108) and attractive US bond yields with the 10-year yielding 4.35%. A change in FII strategy from selling to buying will happen when macros indicate recovery in growth and corporate earnings."

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