Market Quote 30 May 2023 By S Ranganathan, LKP Securities
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Below is the market quote 30 May 2023 By S Ranganathan, Head of Research, LKP Securities
On a day when the Volatility Index dropped below 12, it was an eventful trading session today as the month of May has witnessed cash market volumes surging towards a six-month high as the return of FII's pepped up domestic investors in search of Alpha in a month which defied the usual ' Sell in MAY and Go Away ' rhetoric. As markets shrugged away inflation, supply-chain disruptions and a slowdown in certain discretionary spends, buoyant FII inflows of Rs 450bn since April has powered the Bank Nifty to its yearly-high today ahead of the MSCI rejig tomorrow. The sight of 63K on the BSE SENSEX today was indeed music to Bulls who made Hay in May.
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