Morning Market Quote : There are two trends in the market that deserve attention Says Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Below the Quote on Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"There are two trends in the market that deserve attention. One, the institutional activity is showing a consistent trend - sustained selling by FIIs and sustained buying by DIIs. Two, there is a trend towards quality - largecaps are resilient while the broader market is weakening. These two trends are likely to continue in the near-term. Since the dollar index and US bond yields continue to remain high FIIs are unlikely to turn buyers any time soon. This will cap a rally in the market even though the market is in an oversold zone.
Largecap financials, IT and pharma can continue to support the market on declines."
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Quote on FPI-FII details by Shrikant Chouhan, Head Equity Research, Kotak Securities
