Morning Market Quote : Until then the market is likely to move only in a range Says Dr. V K Vijayakumar, Geojit Financial Services
Below the Morning Market Views from Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The Delhi election results, particularly the emphatic nature of the BJP win, though positive from the market perspective, are unlikely to trigger a sustained rally in the market. With the dollar index above 108 and the 10-year US bond yield above 4.4%, FIIs will continue to sell the rally, restricting any potential upside.
It is important to understand that valuations in India continue to be on the higher side, particularly in the broader market. The market needs fundamental triggers like indications on GDP growth and earnings rebound. Until then the market is likely to move only in a range. Investors should stick to fairly valued high quality largecaps."
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