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13-11-2024 09:41 AM | Source: Geojit Financial Services Ltd
From the emerging market perspective, the rise in the dollar index and the sharp spike in the US 10-year bond yield to 4.42% are causes of concern. Such high yields in US bonds will facilitate more outflows from emerging markets to the US. This will continue to be a headwind for India.
Morning Market Quote : The Market has entered a consolidation phase with low volatility and this trend is likely to continue in the near-term Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"A significant feature of this year’s market movements is the big variation across countries and regions. The US is, by far, the best performing market with 26.17% YTD returns in S&P 500. India is now underperforming with only 9.85% YTD returns in Nifty. The Euro Zone index Stoxx 50 has given only 5.14% YTD returns. The performance of the economy and expectations around earnings growth are the main factors behind this variation in performance. The US economy continues to be resilient, India is facing growth concerns and the Euro Zone is very weak. The Trump victory has added an element of high volatility to markets.
Investors should be cautious in investing in sectors like cement, metals and petroleum refining which are facing growth slowdown. Safety is sectors like banking, new age digital companies, hotels, pharma and IT where growth prospects are good."
Above views are of the author and not of the website kindly read disclaimer
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