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Below the Quote on Morning market views from Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited

"Brent crude spiking to $114 is a major negative for the economy and markets. However, there are strong positives that can counter this negative. The sharp decline in the US 10-year yield to 4.96 % and the appreciation in the rupee to 94.70  to the dollar are positives that can restrain FII selling significantly. More importantly, more than Rs 3 lakh of the IPO money ( out of the Rs3.73 that has gone into the Jio Platform IPO during the last two days) will come back into the system after the allotment is completed by next Monday. This potential liquidity surge can lift the market next week. The market can move higher anticipating this in advance. It is important to understand that the rally, if it happens, will be led by the large-caps which are signalling resilience. The sharp correction in the broader market, particularly in small-caps, might continue since their valuations, driven up by liquidity rather than fundamentals, are hard to justify. Fairly-valued large-caps, particularly those which are growing well, present value buying opportunities for patient investors."

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