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06-11-2023 09:39 AM | Source: Geojit Financial Services

Morning market quote : The ability of stock markets to climb walls of worries is manifesting clearly in these troubled times Says Dr. V K Vijayakumar, Geojit Financial Services

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Below Quote On Morning Market 06 November 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The ability of stock markets to climb walls of worries is manifesting clearly in these troubled times. Buy on dips strategy has worked well for investors with risk-appetite. The market construct now is favourable for the bulls despite the uncertainty surrounding the Israel-Hamas conflict. The sharp decline in the U.S. 10-year bond yield from the October high of 5% to 4.58% now is the strongest tailwind for the market. The decline in the dollar index to 105.2, correction in Brent crude to $85 and gold declining to $1988 are indications of a risk-on in markets. The short strategy of FIIs haven’t worked and they are likely to turn buyers soon.

Even though the Small cap index is showing resilience, valuation comfort and safety are in large caps. Financials and automobiles are on a strong wicket. For IT, momentum is in mid-caps."

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Morning market quote : The ability of stock markets to climb walls of worries is manifesting clearly in these troubled times Says Dr. V K Vijayakumar, Geojit Financial Services

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