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Quote on Morning Market 10 January 2024 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The market is moving up and down without a directional trend. Up moves are countered with selling and down moves are responded with buying. A trend might emerge in the coming days in response to Q3 results.
There is an important dichotomy in the market which has implications for investors. Segments like defence and railways have run up too much too fast based on expectations triggered by order inflows. It will take time for these orders to be executed and reflect on the bottom lines. On the other hand there is value in segments like banking, particularly in high quality private sector majors. But this value is not getting reflected in the price. This is a short-term aberration which will correct in the medium to long-term. Here patience is the key.
Q3 results starting tomorrow will be keenly watched. Regarding IT the management commentary will be more important than the results which will be tepid."

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