26-09-2024 09:25 AM | Source: Geojit Financial Services Ltd.
Since there is no valuation comfort in the market now and the mid and smallcap segments are overvalued, investors should give priority to safety and prefer largecaps. Bank Nifty has more potential to move up and there is valuation comfort in this space."
Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
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Below the Quote on Morning Market by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
"There are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs who are likely to move some more money to China and Hong Kong since these markets are cheap and are witnessing an uptrend now. But FII selling is unlikely to push the market down significantly since the ample domestic liquidity can easily absorb such selling. A range-bound market is the near-term scenario and, therefore, the real action will be stock-specific.
Since there is no valuation comfort in the market now and the mid and smallcap segments are overvalued, investors should give priority to safety and prefer largecaps. Bank Nifty has more potential to move up and there is valuation comfort in this space."
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