Morning Market Quote: FII selling getting completely overwhelmed by DII buying Says Dr. V K Vijayakumar, Geojit Financial
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
Quote on Morning market 19 October 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
There are two factors supporting the ongoing rally in the market: One, support from the mother market US aided by some excellent quarterly results and two, FII selling getting completely overwhelmed by DII buying. DIIs bought stocks for Rs 5290 crores in the cash market during the last 3 trading days against FII selling of Rs 1536 crores. This complete dominance of DIIs over FIIs is triggering short covering too. Good Q2 results are imparting resilience in segments like IT and financials. The festive mood is another positive.
However, high global inflation and tightening central banks pose headwinds to the rally
Above views are of the author and not of the website kindly read disclaimer
Tag News
Trend reversal in FPI investment from buying in last 3 months to selling in Sep
