Morning Market Quote : With all attention focused on the outcome of the US presidential election Says Dr. V K Vijayakumar, Geojit Financial Services

05-11-2024 09:54 AM | Source: Geojit Financial Services

Morning Market Quote : With all attention focused on the outcome of the US presidential election Says Dr. V K Vijayakumar, Geojit Financial Services

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Below the Quote on Morning Market Quote : With all attention focused on the outcome of the US presidential election Says Dr. V K Vijayakumar, Geojit Financial Services

"With all attention focused on the outcome of the US presidential election, perhaps the more important domestic economic issue is not getting the importance it deserves. It is important to understand that India’s underperformance is striking: while S&P 500 is up 20.45% YTD Nifty is up by only 10.36% YTD. Clearly, domestic issues are weighing on markets. With two thirds of Nifty 50 companies missing their earnings estimates in Q2, Nifty 50 earnings for FY25 has been drastically revised down to less than 10% from the consensus 15% earlier. With this kind of earnings downgrade it would be difficult to sustain the current valuation. This is the rationale of the relentless FII selling which might continue for some more time.

Investors can opt for the safe strategy of remaining invested and accumulating stocks in segments which can weather the volatility. Apart from leading financials, auto stocks like Eicher Motors and M&M have exhibited earnings momentum and improving prospects, going forward."

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Morning Market Quote : With all attention focused on the outcome of the US presidential election Says Dr. V K Vijayakumar, Geojit Financial Services

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