Indian stock indices managed to trade on a positive note throughout Wednesday's session and settled substantially high with all eyes now focused on the Reserve Bank of India's (RBI) decision from the ongoing bi-monthly monetary policy review.
Benchmark indices Sensex and Nifty closed about 0.3 per cent lower each. The fall in indices could be attributed to profit booking by investors after the latest consistent rally in Indian stocks.
Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the third straight month, data from the National Securities Depository (NSDL) revealed.
Indian stock market is likely to witness volatility next week (May 22-26) and shall be influenced by factors including the last leg of Q4 FY23 earnings, cues from global markets, and patterns in foreign fund inflows.
Indian stock indices opened marginally higher Monday after having closed in the red the last session. At the time of writing this report, benchmark indices Sensex and Nifty were 0.5 per cent higher each.
Indian stock indices declined Friday morning, largely due to profit booking after the recent consistent bull run. Indian stock indices had been rising for about two weeks, backed by higher-than-estimated Q4 earnings, firm GST collection and foreign fund inflows.
Strength in Indian stock indices continued from the past few sessions which opened in the green on Thursday, but was limited as US Fed in its fight against inflation raised interest rates by another 25 basis points.
Indian stock indices extended their positive momentum from the past week and opened in the green on Tuesday, largely due to firm GST collections and continued foreign fund inflows in April.