Retail investor exuberance pushing up broader market

by IANS |



New Delhi, Nov 20 (IANS) Retail investor exuberance is pushing up the broader market. Investors should not be blinded by the recency bias and chase small caps running away without fundamental support, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.


Inspite of recent underperformance, safety is now in large caps. Since FIIs turned buyers in the cash market on two days recently, they are unlikely to sell big and may again buy on favourable developments, he said.


There is momentum in large-cap IT stocks. The expectation that US will not tip into a sharp recession has improved the prospects for IT. Autos, telecom, capital goods and construction-related segments are likely to remain resilient. Banking stocks bouncing back is only a matter of time, he said.


"The ongoing rally in the mother market US triggered by declining bond yields makes the market construct slightly favourable for the continuation of the rally in India," he added.


BSE Sensex is trading down 25 points at 65,769 points on Monday.


M&M is top loser down more than 2 per cent.



Latest News
We look forward to boost presence in the UK: N. Chandrasekaran Fri, Feb 14, 2025, 03:21 PM
CCPA fines coaching institute for false claims on IIT-JEE results Fri, Feb 14, 2025, 03:14 PM
High risk bushfire warning issued for Tasmania on Australian west coast Fri, Feb 14, 2025, 03:11 PM
SC extends relief to ex-IAS trainee officer Puja Khedkar Fri, Feb 14, 2025, 02:49 PM
Medvedev reaches first quarterfinal of the season in Marseille Fri, Feb 14, 2025, 01:03 PM
IPL 2025: Aakash Chopra backs Axar Patel to lead Delhi Capitals Fri, Feb 14, 2025, 01:00 PM
Karnataka police station attack case: 16 arrested so far, 1,000 booked Fri, Feb 14, 2025, 12:40 PM
Impact of Trump's 'reciprocal' tariffs may be limited due to FTA: South Korea Fri, Feb 14, 2025, 12:34 PM
H5N1 bird flu silently spread from animals to some humans: US CDC Fri, Feb 14, 2025, 12:31 PM
Champions Trophy: ICC announce USD 6.9 mn prize pool, 53 pc hike from last edition Fri, Feb 14, 2025, 12:29 PM
India rejects Trump's offer to mediate with China Fri, Feb 14, 2025, 11:43 AM
Trump calls PM Modi tougher negotiator than him Fri, Feb 14, 2025, 11:39 AM
Trump launches attack on BRICS; threatens 100 pc tariff if it launched currency Fri, Feb 14, 2025, 11:36 AM
YSRCP leader Vamsi Mohan remanded to judicial custody Fri, Feb 14, 2025, 11:33 AM
India's e-waste offers $6 billion economic opportunity: Report Fri, Feb 14, 2025, 11:21 AM