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Below Quote On Morning Market 05 October 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The triple whammy of spiking dollar, US bond yields and crude is slowly easing, paving the way for a recovery in markets. The decline in the dollar and US bond yields are mild and , therefore, not adequate for a reversal of FII selling, which continues to be very high. But the sharp correction in Brent crude to $86 is a big positive. Apart from the macro benefits the crude correction will reflect positively on the stocks of oil consuming industries like paints, aviation and tyres.
Sustained FII selling has impacted banking stocks in spite of their sound fundamentals. Q2 results of banks will be good and their valuations are attractive. This presents a good buying opportunity now. Capital goods stocks will continue to do well. Q2 results of autos, too, will be good, gaining from soft commodity prices. The market will start discounting this in advance."

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