Daily Stock Market Reports

sensex today: STOCK MARKET HIGHLIGHTS: 16,550 levels crucial for Nifty; wait for clarity


Market has corrected significantly with Nifty, Nifty Midcap and Nifty Smallcap declining sharply by 12%, 20% and 22% respectively. This has made valuations fair with Nifty trading around 17 times FY23 earnings.

But we are in the context of a war with a high level of uncertainty. A lot will depend on whether this will be a short war or will it get prolonged. If it turns out to be a short war with Russia succeeding in putting a pro-Russian government in Ukraine soon, markets are likely to bounce back. On the other hand, if it gets prolonged, the uncertainty will impact markets.

Since the situation remains fluid, investors may remain cautious and vigilant.

For long-term investors who can ignore the short-term gyrations in the market, there are buying opportunities in high quality stocks that have corrected significantly. Financials, IT and real estate stocks have the potential to bounce back smartly in a favorable environment.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services



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