Quote on Morning Market by Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
Below the Quote on Morning Market by Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
"Nifty has been exhibiting weak trend weighed mainly by the weakness in the IT stocks. This weakness may persist particularly since the FIIs were big sellers in the cash market last Friday. It is important to note that banking and financials are outperforming even in this weak market. This trend may persist. The market has already discounted the NIM compression for banking stocks expected in Q1 results. Therefore, dips in banking stocks will provide opportunities to buy.
Market is expecting a US- India trade deal soon with a tariff rate of around 20% for India. If this happens the market will get a sentimental boost. Any disappointment on this front can drag the market further down."
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