New Delhi: The market construct is favourable for consolidation around current levels and gradual up move, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The six-day winning streak in S&P 500 provides global stability to markets. Stable crude, steady dollar, down trending US bond yields and declining goldare indicators of stability in markets, he said. Investors have to appreciate the fact that the rally in small and midcaps is primarily driven by retail buying on every dip. The explosive growth in demat accounts which have touched 132 million now is playing a major role in the rally in the broader market while the large caps are under pressure from FII sel
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