💼The major headwind that the market is facing now is the massive, unprecedented and sustained FII selling which has touched Rs 93088 crores through 23rd October, as per NSDL data.
💼The fundamental trigger for the FII outflows is the elevated valuations in India and the relatively cheap and attractive valuations in markets like China and Hong Kong.
💼The FII selling is getting aggravated by news of slowdown in corporate earnings.
💼Uptrend in the market is not compatible with downtrend in earnings growth and, therefore, the market is witnessing selling at every rise, turning the near-term market structure into ‘sell on rally.’
💼Investors should be cautious at this juncture and refrain from chasing temporary rallies.
💼High quality financials and IT stocks can be bought on dips.
💼Digital stocks which continue to show acceleration in growth can be gradually accumulated on declines.
.
.
.
#StockMarket #inflation #GeojitOutlook #MarketUpdate #InvestmentOpportunity #EmergingMarkets #StockMarket #inflation #GeojitOutlook #MarketUpdate #InvestmentOpportunity #EmergingMarkets
Posted on : 24 Oct 2024 9:32 AM
