New Delhi, Aug 25 (SocialNews.XYZ) An unhealthy trend in the market is the sustained rise in the prices of many small-and micro-cap stocks, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
This is partly aided by the sustained flow of funds into the small-cap segment. Valuations in the segment are approaching risky levels. Safety is now in large-caps, he added.
The market is delicately poised waiting for triggers. The transient role of sentiments was evident on Thursday when the market couldn’t sustain the enthusiasm triggered by the successful Chandrayaan-3 mission and its positive impact on stocks related to the mission, he said.
The message from the Fed chief Jerome Powell Friday night will be keenly watched for any clues on the future trajectory of interest rates in the US. The Fed chief is unlikely to indicate that the rate hiking cycle is coming to an end, he added.
BSE Sensex is down 371 points at 64,881 points on Friday. Indusind Bank, SBI Tech Mahindra, L&T are down more than 1 per cent.
Source: IANS
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