Indian stock indices witnessed a bloodbath on the day the Lok Sabha results are being announced, where incumbent BJP performed below par and seems it may fall short of exit poll predictions and the majority mark.
Analysts now believe the uptrend in the Indian stock benchmarks is expected to continue through this upcoming week starting Tuesday. On Monday, stock markets will remain closed on account of General Elections.
Irrespective of who forms government at the Centre, sectors such as FMCG, auto, healthcare, IT services, private banks, and capital goods are expected to perform well, stated brokerage Prabhudas Lilladher in its latest report, 'India Strategy Report - Mandate 2024, Brace of Volatility'.
Indian stock indices started the fresh week in the green, carrying over positive momentum from the past week's closing, possibly due to fresh buying on dips.
A growing number of Indians, mostly youth, are reaping dividends from India's growing financial markets, which is also adding to the growth. Also, global investors are also making a beeline to invest in India.
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.
It is humanely impossible to track the entire market on a real-time basis. So, how does the exchanges keep a tab on movement of scrips and indices and contracts so that undesirable practices, if any, can be stopped?
Going ahead into this week, investors will closely monitor the RBI monetary policy meeting starting Wednesday, with the outcome to be pronounced on Friday morning.