BSE Sensex is up 447 factors at 71,803 factors on Thursday. NTPC is up 4 per cent, Bajaj Finance is up greater than 3 per cent. Indusind Bank and Tata Motors are up greater than 2 per cent.
A predictable market development is that prime valuations will result in corrections. The unpredictable half is the timing and the set off for the correction. In the last few days, globally markets are correcting and the set off for the correction is revenue reserving, which is regular and rational, says V.Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Markets generally tend 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 mirrored image of the market concern concerning the timing of the anticipated Fed charge lower, he mentioned.
technique now can be to maneuver some cash from the overpriced mid and small-caps to the fairly- priced high-quality large-caps like the main banking names in the market, he added.
(With inputs from IANS)