Morning Market Quote : This broader market rally cannot continue for long Says Dr. V K Vijayakumar, Geojit Financial Services

22-12-2023 09:53 AM | Source: Geojit Financial Services Ltd

Morning Market Quote : This broader market rally cannot continue for long Says Dr. V K Vijayakumar, Geojit Financial Services

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Below Quote On Morning Market 22 December 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The market signal is that Wednesday’s sharp correction was a one day event and not a reversal of the uptrend. This confirms the success of the buy on dips strategy, which has played out consistently in the ongoing rally. The global cues continue to be favourable with the dollar index below 102 and the US 10-year bond yield hovering around 3.9%.
The concern in the market now is the excessive valuations in the mid and small cap segments. Retail exuberance and sustained flows into the mid and small cap mutual funds are driving this rally, which has slipped into a frothy zone. This broader market rally cannot continue for long. Safety is as important as returns. Undoubtedly safety is in large caps now. Going forward, large caps are likely to outperform mid and small caps."

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Morning Market Quote : This broader market rally cannot continue for long Says Dr. V K Vijayakumar, Geojit Financial Services

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