22-05-2024 12:41 PM | Source: Geojit Financial Services Ltd
Morning Market Quote : The market is likely to respond to the election outcome earlier than June 4th Says Dr. V K Vijayakumar, Geojit Financial Services
Below the morning market quote from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
"One inference that can be drawn from institutional activity this month is that there is no excessive concern regarding the much talked about election results jitters. Net institutional selling is almost nil since the FII selling of Rs 37500 crores has been neutralised by DII buying of Rs 37369 crores so far this month. Also, it is important to understand that FII selling has been triggered by the outperformance of Chinese stocks which nudged FIIs to sell in expensive India and buy in cheap Hong Kong. Therefore, institutional activity does not reflect any election-related jitters. The decline in India VIX by 9% in recent days also indicates a return of stability in the market.
The market is likely to respond to the election outcome earlier than June 4th. Investors can consider buying stocks before the results. Priority can be given to largecaps which are fairly valued compared to the broader market where valuations are much higher. A possibility around the election results time is both FIIs and DIIs turning buyers lifting the largecaps and the indexes to higher levels."
The market is likely to respond to the election outcome earlier than June 4th. Investors can consider buying stocks before the results. Priority can be given to largecaps which are fairly valued compared to the broader market where valuations are much higher. A possibility around the election results time is both FIIs and DIIs turning buyers lifting the largecaps and the indexes to higher levels."
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