IGI Logo

Below Quote On Morning Market 20 October 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

"The US 10-year yield hovering around 5% continues to be a headwind for equity markets. The volatile situation in West Asia, though being largely ignored by the market now, can pose additional near-term challenges. FPIs are likely to remain sellers putting pressure on banking stocks which constitute the major share of their AUM. This provides an opportunity for domestic investors to buy these stocks which are available at fair valuations.
Latest data shows that India’s food grain production is at record high and this can keep food inflation under control. The implication is that the MPC will go for a long pause and this is favourable for banking stocks."

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