FPIs have turned sellers in Indian market after 3 months
After sustained buying for three months, FPIs have turned sellers in the Indian market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
After sustained buying for three months, FPIs have turned sellers in the Indian market, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On Thursday, Adani Enterprises' shares surged 1.74 per cent to Rs 1,589.90 apiece on BSE. It had gone up 15.90 per cent in a span of five days.
According to Likhita Chepa at CapitalVia Global Research: "With financial and technology stocks strengthening the Indian markets, there are chances to witness a decisive breakout above 15,900 today."
NSE Nifty climbed over 167 points to reclaim the key 14,500-level during the day but surrendered all its gains to the end.
Company’s revenue from operations rose by 3.4 per cent to Rs 16,245.4 crore in the reported quarter, from Rs 15,711 crore in the same period last fiscal.
IT stocks led the rally after TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore and projected double-digit revenue growth for FY22.
On the other hand, Titan, Sun Pharma, ICICI Bank, Axis Bank, SBI and Bajaj Finance were among the main laggards.
SBI was the top gainer in the Sensex pack, gaining over 2 per cent, followed by TCS, Tech Mahindra, HUL, Bajaj Finance, Kotak Bank and Titan.
Mahindra and Mahindra, Hero Motorcorp and others were among other top gainers on the NSE.
Shares of Reliance Industries jumped over 3 per cent during the day to hit a record high of Rs 1,947 on the BSE on the back of new investments.
