Morning Market Quote : There are two distinct trends in the market now which can be observed In the secondary and primary markets Says Dr. V K Vijayakumar, Geojit Financial Services

2024-09-03 09:36:26 am | Source: Geojit Financial Services

Morning Market Quote : There are two distinct trends in the market now which can be observed In the secondary and primary markets Says Dr. V K Vijayakumar, Geojit Financial Services

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

"There are two distinct trends in the market now which can be observed In the secondary and primary markets. In the secondary market, recently, there is a positive trend with high quality stocks being accumulated and moving up. Bajaj Finance, ITC, Bajaj Auto and Maruti are examples of this healthy trend. At the same time there is froth in segments of mid and small caps where valuations are hard to justify.

The other trend is the totally irrational moves in the SME IPO market where many SMEs of doubtful credentials are getting their IPOs oversubscribed many times and the stocks on listing are manipulated and driven to upper circuits for days. Due diligence is conspicuous by its absence. Many retail investors, driven by greed, are rushing into this gambling game. This will end in tears for the newbies who have no understanding of market fundamentals.

The record breaking winning streak of the Nifty is likely to end soon and the market needs to correct. But there are no signals of a major breakdown or triggers for a breakout."

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