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Below the Quote on Morning market views 23rd January 2026 from Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited

"The pattern of sustained FII selling and DII buying which dominated  the market trend in 2025 has been continuing in 2026, too, so far. Whether this pattern will change with FIIs also turning buyers is the important question which investors have been asking for sometime now. Partly the Budget to be presented on February 1st will offer some insights, if there are some market-friendly proposals. More importantly, the FII stance towards India will be determined by the trend in India’s corporate earnings. Higher earnings growth alone can ensure sustained buying by FIIs since they have the option to invest in other markets where valuations are cheaper and earnings are better. Since earnings growth is sometime away and the FII selling strategy is expected to continue, preempting  any healthy rally, the market is heavily net short. FIIs are adding to the short positions on every rally triggered by some positive news. The broader market, where FII presence is limited, is like to witness action in response to Q3 results."

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