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Below the Quote on Morning Market Views 22 August 2025 by Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited

"The headwinds for the market from  Trump tariffs will weigh on markets constraining the rally of the last 6 days. If the penal tariff of 25% kicks in on August, and this appears likely, the impact on India’s growth will be not be 20 to 30 bp estimated with 25% reciprocal tariffs, but more. The market will have to discount that. 

A significant trend in the market is the outperformance of largecaps, which is desirable and fundamentally justified. While Nifty is up by 1% during the last one year, Nifty Midcap 150 is down by 0.35% and Nifty Smallcap 250 is down by 4.7 % during the same period. This trend is fundamentally justified and likely to continue. Midcap IT is showing resilience now. 

Investors should focus on valuations now."

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