Morning market quote : There are two forces influencing the market trend now. On the positive side Says Dr. V K Vijayakumar, Geojit Financial Services

26-09-2023 10:12 AM | Source: Geojit Financial Services

Morning market quote : There are two forces influencing the market trend now. On the positive side Says Dr. V K Vijayakumar, Geojit Financial Services

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Below Quote On Morning Market 26 September 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"There are two forces influencing the market trend now. On the positive side, the strength of the Indian economy, good corporate earnings trend and flows into the mutual funds, particularly SIPs, are supportive indicators. But the bulls are on the back foot since negative global cues are indicating caution. The US 10-year bond yield climbing to a 10-month high of 4.54 % and the dollar index spiking to 105.94 are headwinds for the market. This is getting reflected in the sustained FII selling which has taken the net FII sell figure in September, so far, to Rs 20593 crores. The buying by DIIs, at Rs 13748 crores, is supporting the market but is not strong enough to give confidence to the bulls. It remains to be seen how this tug of war plays out in the near-term.

Meanwhile, long-term investors can utilise the weakness in the market as an opportunity to buy high quality stocks in financials, capital goods and autos ignoring the near-term volatility in the market."

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Morning market quote : There are two forces influencing the market trend now. On the positive side Says Dr. V K Vijayakumar, Geojit Financial Services

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