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24-11-2023 09:54 AM | Source: Geojit Financial Services

The Nifty Bank index is almost flat this year with measly growth of 0.87% Says Dr. V K Vijayakumar, Geojit Financial Services

News By Tags | #Sensex #MarketOutlook #Nifty #BankNifty #GeojitFinancialServicesLtd #DrVKVijayakumar

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Below Quote On Morning Market 24 November 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The dominant trend in the market this year is the huge outperformance of the mid and small caps. While Nifty is up only 8.82% YTD, Nifty midcap index and Nifty Smallcap index are up 33.38% and 41.66% YTD. It is important to understand that Nifty is depressed by the poor performance of banks which have the largest weightage in Nifty. The Nifty Bank index is almost flat this year with measly growth of 0.87%.

Banks are underperforming despite very good results because they are over-owned and sustained FII selling is weighing on bank stocks. Mid and smallcaps are under-owned and retail exuberance is largely driving these stocks. There is no valuation comfort in the broader market but valuations are fair in large caps.
Therefore, the next leg of the rally, driven by institutional money - both foreign and domestic- will be driven by large caps."

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The Nifty Bank index is almost flat this year with measly growth of 0.87% Says Dr. V K Vijayakumar, Geojit Financial Services

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