Morning Market Quote : The relief rally witnessed yesterday is unlikely to have a free run up in the coming days Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

24-12-2024 09:25 AM | Source: Geojit Financial Services Ltd

Morning Market Quote : The relief rally witnessed yesterday is unlikely to have a free run up in the coming days Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

The relief rally witnessed yesterday is unlikely to have a free run up in the coming days. Two sets of factors- external and internal- will restrain a sustained rally. Externally, the strong dollar and high bond yields in the US will prompt the FIIs to sell on rallies. Internally, the growth and earnings slowdown will be near-term negatives that will restrain the bulls. The high valuations in the market in this challenging macro backdrop cannot favour a PE expansion which can take the market significantly higher.

Investors should prioritise safety over returns in the current context. Fairly valued segments like largecap financials, sectors like pharma and IT which will have stable demand, and fast growing segments like digital stocks are likely to remain relatively resilient in a challenging environment.

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Morning Market Quote : The relief rally witnessed yesterday is unlikely to have a free run up in the coming days Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

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