11-11-2024 09:50 AM | Source: Geojit Financial Services Ltd
Investors should focus on segments where growth is strong like banking, telecom and new gen digital companies. The positive US scenario will be good for IT companies, too."
Morning Market Quote : US Market Rally No Longer a Tailwind for Indian Markets Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"The sustained rally in the US markets which have taken the Dow and S&P 500 above 40000 and 6000 respectively is no longer a tailwind for Indian markets. Expectations that tax cuts promised by Trump and his pro-business policies will boost corporate earnings in the US are driving the rally.
In India, in contrast, worse-than-expected earnings downgrades for FY25 are weighing on stock prices favouring the bears in the near-term. FIIs may continue to sell and move money to the US which has outperformed India so far this year. However, at some point valuations in India will become attractive and this will aid trend reversal favouring the bulls for a short while. The weakness in Chinese stocks consequent to the disappointing stimulus package will turn out to be positive for Indian stocks.
Above views are of the author and not of the website kindly read disclaimer
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