New Delhi, Oct 4 : Global cues are negative for markets in the near-term and the sustained rise in the US bond yields, which has triggered continuous FII selling, is showing no signs of abating, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. This means FIIs will continue to sell and the bulls will be on the back foot, he said. On the positive side, valuations in some segments are becoming attractive and this may push DIIs and retail investors to buy stocks in such segments. An inevitable consequence of this complex situation is heightened volatility, he added. Investors should watch out for stocks which look strong even in a weak market. Stocks like Bajaj Finance, L&T and Zomato have been exhibiting strength even in a weak market, he added. A significant trend in the market is that fundamentally strong stocks like large cap private sector banks have turned weak on FII selling. For long-term investors, this is an opportunity." Aditya Gaggar, Director of Progressive Shares, said the American and European markets are witnessing selling pressure and the technical set-up indicates further correction on the cards. In the Indian markets, bears were seen tightening their grip as Nifty50 began the week on a tepid note, and Auto and energy counters mounted pressure on the Index to settle the day lower at 19,528.75. Banking stocks will remain in focus due to various reasons like Q2 business updates and the MPC meeting which will start today. Divergence trade is likely to continue in the BFSI segment where heavyweight private banks will remain choppy and PSU Banks will extend their up-move with a minor corrective move in between. The Auto and Energy sectors are likely to correct further while stock-specific buying can be seen in the Realty and Power space, he added. BSE Sensex is down 373 points at 65,138 points on Wednesday. Axis Bank is down more than 3 per cent. /IANS