08-08-2024 09:23 AM | Source: Geojit Financial Services Ltd
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
"The recent trend in institutional activity in the market indicates a clear trend. FIIs are in a risk-off mood and are playing it safe with sustained selling. During the last four days FIIs have sold for Rs 20228 crores in the cash market. This is a rational thing to do given India’s elevated valuations and the concerns surrounding recession fears in the US and further issues relating to the unwinding of the yen carry trade. The Indian market has again turned resilient since the FII selling is evenly matched by DII buying which touched Rs 19278 crores during the last four days. DII buying, too, is a rational decision since they have to deploy the funds flowing into their schemes.
The heightened volatility in the market triggered by US recession fears and the unwinding of the yen carry trade is likely to persist for some time. Investors should wait for clarity on these two issues."
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