Morning market quote : There is risk-off in global equity markets triggered by a combination of economics and geopolitics Says Dr. V K Vijayakumar, Geojit Financial Services
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Below Quote On Morning Market 26 October 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"There is risk-off in global equity markets triggered by a combination of economics and geopolitics. The Israel-Hamas conflict continues to be a major headwind for markets. If the conflict lingers for long it has the potential to impact global growth,too, when the global economy is already in the midst of a slowdown. In the near-term, however, the strongest headwind for the market is the stubbornly high US bond yields. With the 10-year bond yield at near 5% FPIs are likely to be in the sell mode. Sectors like banking and IT which constitute the largest segments of the AUM of FPIs are likely to be under pressure. This will provide opportunities for long-term investors to buy quality stocks, particularly in banking, at attractive rates."
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