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FPIs sold stocks worth Rs 2,081 cr in last 2 days indicating buying exhaustion

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FPIs sold stocks worth Rs 2,081 cr in last 2 days indicating buying exhaustion
FPIs sold stocks worth Rs 2,081 cr in last 2 days indicating buying exhaustion

In the last two days, FPIs have sold stocks worth Rs 2,081 crore indicating buying exhaustion, says V.Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

FPI flows have slowed down. This is regular response to the rising greenback index which has moved as much as 101.4 from the current low of 99. Even although Nifty is exhibiting indicators of resilience, it’s unlikely to race to twenty,000 degree in the subsequent few days, given the rising greenback and declining FPI inflows. Brent crude spiking to $82 can be one other drag available on the market, he mentioned.

markets, sensex

Indian inventory market graphic (Infographics : Pinaki Paul)IANS

Globally markets can be keenly watching the US Federal Reserve commentary since a 25 bp hike in price is already recognized and discounted by the market.

Q1 outcomes due on Tuesday — Tata Motors, Bajaj Auto — and anticipated on Wednesday — Axis Bank, Cipla, Dr Reddy’s, Bajaj Finance, Tech Mahindra — will affect inventory costs and market sentiments. Market is more likely to consolidate inside a band for now and watch for triggers to maneuver, both up or down, he added.

ITC is down for the second day after lodge demerger announcement. The firm is down greater than 2 per cent whereas BSE Sensex trades flat at 66,368 factors, down 15 factors on Tuesday.

PFC at 52-week excessive

Among these whose share worth hit a 52-week excessive embrace Power Finance Corporation Ltd’s share hitting Rs.244 from Rs 101 per share, its lowest worth, whereas the inventory P/E ratio is 3.98.

Bombay Stock Exchange

Bombay Stock ExchangeIANS

The firm funds infrastructure tasks in the nation’s energy sector. Its choices embrace fund-based merchandise in the type of venture time period loans, lease financing for buy of kit, quick/medium time period mortgage to tools producers, debt refinancing and so forth.

The non-fund primarily based merchandise embrace deferred cost assure, letter of consolation (LoC), coverage for assure of credit score enhancement and so forth. The complete traded amount was of 12.03 lakh shares on Monday.

(With inputs from IANS)

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