01-01-1970 12:00 AM | Source: Geojit Financial Services Ltd
Quote on FPI : The sustained buying by FPIs has lifted the Nifty by 2.4% in May Says Dr. V K Vijayakumar, Geojit Financial Services
News By Tags | #7512 #607 #5512 #4943 #1014 #572

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

Below is quote on FPI By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

 

FPI flows into India reached a nine-month high of Rs 37316 crores in May, through 26th. (Source: NSDL) The sustained buying by FPIs has lifted the Nifty by 2.4% in May. India is among the best performing markets like Japan, Taiwan, South Korea and Brazil while other markets, both developed and emerging, are struggling.
FPIs have been buyers across sectors. They invested in sectors like automobiles, capital goods, health care, Oil & gas and telecom. Massive buying was witnessed in financial services, particularly banking.
Leading macro indicators in India like GST collections, PMI data and credit growth suggest a resilient economy which can deliver 6%GDP growth and mid-teen earnings growth in FY 24. The latest CPI inflation print ( 4.7% in April) has come as a shot in the arm for markets. It is a clear indication that interest rates have peaked in India.
In this favourable macro setting, FPI flows are likely to continue supporting the market.
A new record high for Nifty is possible. However, there is no scope for a sharp rally since valuations are not favourable at record levels.

 

Above views are of the author and not of the website kindly read disclaimer

Latest
India's August infrastructure output grows 12.1%, fa...

Read More..

Nitin Gadkari throws open new Maharashtra-Telangana ...

Read More..

JSW Cement to move cement with Murugappa group`s ele...

Read More..

JSW Cement to move cement with Murugappa group's ele...

Read More..

Credit Offtake Remains High, CASA Share Reduction Co...

Read More..

Mawana Sugars gains on resuming operations of Meerut...

Read More..

NLC India shines on inking PPA with GRIDCO

Read More..

India's forex reserves fall to 4-month low

Read More..

Evening Roundup : A Daily Report on Bullion, Energy ...

Read More..

Buy Silver Above 72000 SL Below 71500 TGT 72800/7350...

Read More..