Morning Market Quote : This month, through 11th October, FPIs have sold equity for Rs 58710 crores Says Dr. V K Vijayakumar, Geojit Financial Services

14-10-2024 09:39 AM | Source: Geojit Financial Services Ltd

Morning Market Quote : This month, through 11th October, FPIs have sold equity for Rs 58710 crores Says Dr. V K Vijayakumar, Geojit Financial Services

News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #GeojitFinancialServicesLtd #DrVKVijayakumar

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

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

"This month, through 11th October, FPIs have sold equity for Rs 58710 crores. (Source: NSDL) This massive selling didn’t have a serious impact on the market since the entire FPI selling has been absorbed by DIIs who are receiving sustained fund inflows. This trend of FII selling and DII buying is likely to sustain in the near-term since Chinese stocks continue to be cheap compared to the elevated valuations in India.

IT and banking stocks are likely to remain resilient on the back of expected good Q2 numbers. However, there is only limited scope for the market to move up sharply from here. FY25 earnings expectations have been downgraded by most analysts. The uncertainty surrounding the US presidential elections next month also is likely to weigh on markets along with the geopolitical tensions in the Middle East."

Above views are of the author and not of the website kindly read disclaimer

IGI Logo

Morning Market Quote : This month, through 11th October, FPIs have sold equity for Rs 58710 crores Says Dr. V K Vijayakumar, Geojit Financial Services

Top News

Tag News

More News