More than estimated GDP numbers in India, sustained foreign buying, and the US House of Representatives has passed the US debt ceiling bill indicating that the debt impasse will be resolved and will put less pressure on its economy are some of the major reasons which supported the 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.
The key indices of the domestic equity market ended in the negative territory, extending the loss for the third consecutive day, amid fresh selling. Some profit bookings were seen after the recent bull run.
Indian stock indices started the fresh week on a firm note with support lent from a range of fundamentals such as continued inflow of foreign funds, easing in inflation (both retail and wholesale), and global cues.
Going ahead, the release of US and Indian inflation data for April will be keenly watched by the market participants to get a direction. India retail inflation data is expected on Friday.
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.
Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the second straight month after having sold two months on a trot in January and February, latest data from the National Securities Depository (NSDL) revealed.
Foreign portfolio investors (FPIs) have remained net buyers in Indian stock markets for the second straight month after having sold two months on a trot in January and February, latest data from the National Securities Depository (NSDL) revealed.