Morning Market Quote : The US 10-year bond yield declining to 4.21 % may nudge FIIs to buy more Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Below the Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The US 10-year bond yield declining to 4.21 % may nudge FIIs to buy more. This is pushing FII-heavy stocks like HDFC bank and ICICI bank which have more room to appreciate since their valuations are fair.
Economic news continues to be positive. Net direct tax collections have shot up by 21%. More importantly, advance tax collections have increased impressively by 27.38 % reflecting robust economic activity.
In brief, it is advantage bulls."
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