Share Market: Foreign People invested Rs 21,641 Crore in 5 Days
Share Market: Last week, there was tremendous growth in the domestic stock market. BSE Sensex crossed 71,000 mark, up by over 1,600 points. Foreign institutional investors bought Rs 21,641 crore ($2.6 billion) in the Indian market in five days. As of December, foreign investors have invested nearly four billion dollars in Dalal Street. America's central bank, the Federal Reserve, has announced a reduction in interest rates next year. Indian markets have been incredibly bullish last week. During this period, the market cap of BSE listed companies increased from Rs 8.55 lakh crore to Rs 357.78 lakh crore.
Most analysts say so. That capital inflows into India are expected to continue in the near future. Because both domestic and global factors will affect it. India is the best investment destination for FPIs. VK Vijayakumar, chief investment strategist, Geojit Financial Services, said. Global investors generally believe. That India has the most potential. Krishna Kumar Kadwa of Emkay Global Financial said that with the fall in interest rates across the world, flows will start from America to other countries, from which India will benefit the most.
Experts say. That next week the stock market will be influenced by global trends and FPI activities, as there will be no important events on the domestic front. Due to high valuations there may be some decline in the market in the near future. “Last week was mainly influenced by policy developments from the US Federal Reserve,” said Santosh Meena, head of research at Swastika Investmart Ltd. Now everyone's attention is on the policy decision of the Bank of Japan on December 19. Meena said that apart from this, the big economic data of America and China will be important from the market point of view, as well as the prices of crude oil.
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Technically, the market may move lower in the near future due to overbought conditions. said Prashant Tapse, senior vice president (research), Mehta Equities Ltd. But he said the near-term outlook for the market is bullish. Analysts said the market has reached a record high due to GDP growth of 7.6% in the September quarter, manufacturing PMI rising to 56, Brent crude oil price falling to $ 76 per barrel and FPI (Foreign Portfolio Investment) buying.
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last week status
Last week, the BSE Sensex gained 1,658.15 points, or 2.37 per cent. The National Stock Exchange's Nifty also rose 487.25 points, or 2.32 per cent. On Friday, the Sensex closed at a record high of 71,483.75, up 969.55 points or 1.37 per cent. It rose 1,091.56 points (1.54 percent) to its all-time high of 71,605.76 during the day's trading. On Friday, the Sensex closed beyond the 71,000 mark for the first time. Nifty, on the other hand, closed 27,395 points, or 1.29 per cent, higher at 21,456.65. It rose 309.6 points (1.46%) to touch its all-time high of 21,492.30 during the day.
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"Markets hit new highs on positive indicators from both domestic and global fronts," said Vinod Nair, head of research at Geojit Financial Services. The market moved higher on positive comments by the Reserve Bank on strong domestic industrial production and manufacturing PMI (Purchasing Manager's Index) data along with GDP (Gross domestic product). The decline in bond yields in the US and indications of multiple policy rate cuts by the Federal Reserve in 2024 have boosted the market. He said concerns over El Nino and high valuations could cause some "dropping" in the market in the near future.
Superfast News Coverage By YuvaPatrkaar.com Team
Publish Date: December 18, 2023
Posted By Sunil
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