03-10-2024 10:48 AM | Source: Geojit Financial Services
Morning Market Quote : The hallmark of a bull market is its ability to climb all walls of worries Says Dr. V K Vijayakumar, Geojit Financial Service
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Below the Quote on Morning Market from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The hallmark of a bull market is its ability to climb all walls of worries. This bull market is doing exactly that. The market is ignoring even the worsening situation in the Middle East. The steady US market yesterday signals the market’s belief that the conflict between Israel and Iran is unlikely to impact economies and corporate earnings. However, the situation will change if Israel attacks any oil installations in Iran which will trigger a huge spike in crude. If it happens, it can turn out to be more damaging for oil importers like India. Therefore, investors should watch the emerging situation very closely. A partial switch in portfolios to defensives like Pharma and FMCG also can be thought of.
FIIs may continue to sell since Chinese stocks have turned bullish and a lot of money is moving into the Hong Kong market which continues to be cheap relative to the high valuations in India. Auto two-wheeler stocks are likely to remain strong on the back of good September sales numbers."
Above views are of the author and not of the website kindly read disclaimer
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