March 7, 2014

Foreign institutional investors boosts markets

Markets at all-time high as foreign institutional investors emerged as net buyers

Foreign institutional investors boosts markets
Markets today closed at all-time high, closing high for straight third day. After opening flat market continued to gain through-out the trading session to close near days high. Foreign institutional investors seems to have vindicated, improving macro-economic data and the survey showing BJP-led government coming to power. Foreign institutional investors have been buyers for past 15 trading sessions.

The BSE Sensex gained by 1.89 percent up by 405.92 points to 21919.79. It touched a high of 21960.89. The CNX Nifty surged nearly 2 percent up by 125.50 points to 6526.65. It opened at 6413.95 which too was day's low, and touched a high of 6537.8 intraday.

In the Sectoral, Healthcare and IT were the only indices dropping over 2 percent each. Whereas, Realty and Bankex indices spurted by 5.40-5.35 percent each. Capital Goods index surged over 4 percent and Oil & Gas gained by 3.65 percent. Power, Metal, Auto and Consumer Durables also declined between 2-1 percent each. Whereas, FMCG index advanced by 0.56 percent. However broader markets under performed as compared to benchmark index. Both the Mid-cap and Small-cap index declined by 0.21-0.22 percent respectively.

Foreign institutional investors have been net buyers in equity market leading the market rally. Among the index gainers, BHEL spurted over 6 percent. ICICI Bank, Axis Bank, Reliance Industries, Bharti Airtel, HDFC Bank and Maruti Suzuki surged between 6-5 percent. L&T and SBI too surged between 5-4 percent. Hindalco Industries, Coal India, Mahindra & Mahindra, ONGC, Tata Steel, HDFC and Gail (India) gained between 4-1 percent. ITC, Tata Power, Tata Motors, Cipla, Hindustan Unilever and Sesa Sterlite were the other index gainers.

Among the index losers, Dr Reddys Lab and Wipro dropped between 4-3 percent. Infosys fell by 2.47 percent. Sun Pharma slipped by 1.43 percent. TCS, Hero MotoCorp, NTPC and Bajaj Auto were the other index losers.

However, market breadth was negative. Out of 2980 shares traded, 1466 shared declined and 1354 shares advanced. While 160 shares remained unchanged.

Tags – Institutional Investors, Foreign Institutional Investors (FIIs) and Capital Market in India, Market Pulse, Stock Market Pulse

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