The report underscores the significant role played by new incremental factors, particularly the surge in accumulation by Central Banks in emerging markets (EM) and increased retail buying in Asian markets including India have led to an increase in gold prices worldwide.
Despite expectations
Foreign portfolio investors (FPIs) continue to remain net buyers for the third month in April in Indian stock markets. They had aggressively sold Indian stocks and turned net sellers in the Indian equity market in January 2024, before turning net buyers thereafter.
Indian benchmark indices touched all time high during the trading session on Monday. The Nifty touched all time high of 22,697.30 and Sensex also reached at the level of 74,869.30 points. Both the indices set new highs in the Indian equity market.
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Firm GDP growth forecasts, inflation at manageable levels, political stability at the central government level and signs that the central bank is done tightening its monetary policy have all contributed to painting a bright picture for the Indian economy.
The Indian stock market outlook continues to remain positive given the strength of corporate balance sheets and the healthy rise in capital expenditure, according to Motilal Oswal Private Wealth.
Foreign portfolio investors who had aggressively sold Indian stocks and turned net sellers in the Indian equity market in January 2024, now again became net buyers in February.
At the opening bell, the benchmark Sensex surged by 85.08 points to stand at 73,142.51, indicating a bullish start. Similarly, the Nifty index gained 24.00 points to open at 22,222.60.
Foreign portfolio investors have aggressively sold Indian stocks in January, turning net sellers in the Indian equity market, after making a beeline to accumulate domestic stocks during the past two months--November and December.
Foreign portfolio investors have been aggressively selling Indian stocks, turning net sellers in the Indian equity market so far in January 2024, after making a beeline to accumulate domestic stocks during the past two months--November and December.
The demand for eliminating the Security Transaction Tax (STT) is gaining momentum, and its removal is expected to attract more investors to the domestic equity markets.
Indian stock indices were highly volatile on Monday, to later settle for the day in the red, primarily attributable to profit booking by investors after a consistent rise over the past few weeks.