03-12-2024 09:18 AM | Source: Geojit Financial Services Ltd
Morning Market Quote : The underlying resilience of the market is evident in its ability to bounce back Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The underlying resilience of the market is evident in its ability to bounce back. Market is focusing not on the GDP growth slowdown but on the likely policy response to this slowdown. Banking stocks bouncing back yesterday indicates that the market is expecting a CRR cut on Friday, which will boost the profitability of banks. The strength in market heavyweights like Reliance and HDFC Bank can impart resilience to the market. The net FII sell figure at only Rs 238 crores yesterday is misleading since it conceals many large bulk deals. News of higher GST proposals on products like tobacco can impact stocks like ITC and tax reductions on insurance premiums can be beneficial to insurance stocks."
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