28-11-2023 10:47 AM | Source: Geojit Financial Services
Morning market quote : The market construct is turning favourable aided by global and domestic factors Says Dr. V K Vijayakumar, Geojit Financial Services
Below the morning view on the market from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"The market construct is turning favourable aided by global and domestic factors. Globally there is tailwind from the US market with S&P 500 up by 8.7% so far this month, which, in turn, is supported by falling US bond yields. Domestically, macro indicators suggest strong growth momentum in the economy. Record order inflows for capital goods companies and robust credit growth are strong indicators of the growth momentum in the economy. The only unknown now is the outcome of the state election results. The exit polls on Thursday are likely to give indications of the election outcomes and its impact on the crucial General election in 2024. The US inflation data on Thursday and the Powell speech on Friday will influence global market trends.
This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally."
This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally."
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