Morning Market Quote : The FII buying witnessed in early December completely reversed last week with FII selling of Rs 15826 crores Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

23-12-2024 10:22 AM | Source: Geojit Financial Services Ltd

Morning Market Quote : The FII buying witnessed in early December completely reversed last week with FII selling of Rs 15826 crores 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

The FII buying witnessed in early December completely reversed last week with FII selling of Rs 15826 crores. The outperformance of the US (S&P 500 up 25% YTD) and the relative underperformance of India (Nifty up 14.64% YTD) are driving this change in FII strategy. The strength of the US economy, robust US corporate earnings, expectation of corporate tax cut by President Trump soon after assuming office and the steady appreciation in US dollar are factors favourable to the US market.

Slowdown in Q2 GDP growth and stagnation in corporate earnings in India have soured the domestic market sentiments.

In the short run there will be market rebounds which may be followed by renewed FII selling. A sustained rally is possible only when we have indications of a growth revival in the economy. This is likely in early 2025.

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Morning Market Quote : The FII buying witnessed in early December completely reversed last week with FII selling of Rs 15826 crores Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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