Morning Market Quote : The Indian market appears to be oversold and is set for a rebound Says Dr. V K Vijayakumar, Geojit Financial Services
Below the Quote on Morning Market Views from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The DeepSeek impact on the US stock market in general, and the tech stocks in particular, has turned out to be a reality check for the overvalued stock market. In the medium-term this is likely to have a sobering effect on markets, globally.
The Indian market appears to be oversold and is set for a rebound. The RBI’s announcement of measures to boost the liquidity in the banking system by around Rs 1.5 trillion is positive for the market. This raises the prospects of a rate cut by the MPC in the February policy meeting. Banks are likely to benefit.
After the correction the market is now trading at fair valuations which are in line with long-term (10-year) averages. Investors can utilise the opportunity to buy fundamentally strong high quality stocks. The outperformance of largecaps over mid-and smallcaps is a healthy trend."
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