Morning Market Quote : The uncanny ability of the market to surprise was evident in yesterday`s massive 445 point rally in Nifty Says Dr. V K Vijayakumar, Geojit Financial Services

03-01-2025 09:50 AM | Source: Geojit Financial Services Ltd

Morning Market Quote : The uncanny ability of the market to surprise was evident in yesterday`s massive 445 point rally in Nifty Says Dr. V K Vijayakumar, Geojit Financial Services

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Below the Morning market views from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

"The uncanny ability of the market to surprise was evident in yesterday’s massive 445 point rally in Nifty. Even though FII buying helped in the rally, at Rs 1506 crores net buying it was not good enough to trigger such a massive 1.8% rally in Nifty. Short covering in certain beaten down fundamentally strong stocks like the Bajaj Twins and sharp spurts in auto stocks assisted by better-than-expected December sales numbers have contributed to the rally. Largecaps outperforming smallcaps is a positive signal and may continue. However, it is too early to conclude that FIIs will continue to buy. With dollar index at 109.25 and the U.S. 10-year yield at 4.56% the macro construct is not favourable for sustained FII buying.

Impressive pick up in deposit growth augurs well for banking stocks which are fairly priced."

Above views are of the author and not of the website kindly read disclaimer

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Morning Market Quote : The uncanny ability of the market to surprise was evident in yesterday`s massive 445 point rally in Nifty Says Dr. V K Vijayakumar, Geojit Financial Services

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