In the last few days, globally markets are correcting

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In the last few days, globally markets are correcting

January 04, 2024
Updated: 11:17 am

In the last few days, globally markets are correcting

and the trigger for the correction is profit booking, which is normal and rational, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Markets have a tendency to overreact. Perhaps the sharp rise in the US market in response to the Fed pivot was a bit overdone. The marginal rise in the US bond yield is a reflection of the market concern regarding the timing of the expected Fed rate cut, he said. A good strategy now would be to move some money from the overpriced mid and small-caps to the fairly- priced high quality large-caps like the leading banking names, he added. BSE Sensex is up 447 points at 71,803 points on Thursday. NTPC is up 4 per cent, Bajaj Finance is up more than 3 per cent. Indusind Bank and Tata Motors are up more than 2 per cent. /IANS

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