IGI Logo

Quote on Morning Market 01 November 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"An interesting trend in the market is that FIIs and DIIs have reversed their roles: FIIs have turned buyers and DIIs have turned sellers in recent days. Yesterday’s FII buy figure of Rs 4178 crore is their largest buy figure in recent months. The implication of this role reversal by FIIs is that this has triggered short covering in stocks like the HDFC twins where FIIs are major holders. This trend can take the market up further. Recent good Q2 results of large-caps like Maruti, L&T and Bharti Airtel can give fundamental support to the rally. Since Nifty is only 3% away from its all-time high, a charge to record highs cannot be ruled out. But DIIs are likely to sell at higher levels and many retail investors might be tempted to book some profits.

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