Morning market quote : Since the global market backdrop continues to be favourable, the rally in India is likely to continue Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the morning view on the market from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in US 10-year bond yield to 4.3% and the dollar index dropping below 103 are positive for equity markets. FIIs have turned buyers responding to the changed reality.
What should investors do now? Investors should take cues from the wisdom of the investment legend Charlie Munger who died yesterday. Munger advised investors: “don’t be gamblers, be patient investors.”There is a lot of gambling happening in the market now in low grade stocks. These should be avoided. Investors should buy quality stocks which are fairly priced, and wait patiently. There is value in largecap banking, IT and autos for patient investors.
A big move in the market is likely after the state election results are known. Perhaps the exit polls tomorrow evening may provide some clues."
Above views are of the author and not of the website kindly read disclaimer
