New Delhi, Aug 23 (SocialNews.XYZ) A significant feature of the market trend is the outperformance of the broader market, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
While the Nifty is up 7.13 per cent year to date, the Nifty Midcap and Nifty Smallcap indices are up 22.33 per cent and 21.80 per cent respectively YTD. The global and domestic macro developments and news are impacting the Nifty but not the broader market indices, he said.
Lot of institutional and retail money is chasing mid and small caps but the valuations of these segments are becoming a bit concerning. Investors have to be careful while chasing low-priced stocks in the broader market, particularly the small-cap segment, he added.
Now, there are no immediate triggers which can take the market sharply up or down. Investors may wait and watch for new data expected this weekend from the U S.
Since the dollar index and the US bond yields remain high, FIIs will not be strong buyers in the market. They have been sellers in the cash market in twelve of the last fifteen trading days this month, he added.
BSE Sensex is down 22 points at 65197 points in Wednesday morning trade Tata Steel and L&T are up over 1 per cent.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz