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FIIs Turn Net Buyers For 3 Straight Session To April 9, Indices Rally 13% This Week

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After making a whopping exodus from the Indian markets on ETF redemption, foreign institutional investors (FIIs) have once again invested in the Indian markets. Thanks to this, the markets snapped the continuing declining streak this week surging as much as 13%. Nifty topped levels of 9100, while Sensex reclaimed 31000 points mark as auto sector fuelled the rally.

FIIs Turn Net Buyers For 3 Straight Session To April 9, Indices Rally 13% This W
 

For the last day of trade this week i.e. on April 9, 2020, Indian stock markets saw inflows for the third straight session. In the month of April, FII in net bought Indian stocks worth Rs. 1345.04 crore while in March they sold Rs 65,816.70 crore into Indian markets.

On the contrary, DII were using the surge as a profit booking opportunity and net sold Rs. 466 crore on April 9.

DIIs have been net sellers in April so far with an outflow of Rs 2,025.11 crore against net buying of Rs 55,595.18 crore in March.

Other factors weighing in favour for the Indian equities were hopes of leveling of the coronavirus infection in countries with most affliction and hopes of more stimulus measures by the government.

It is to be noted that amid pandemic crisis, the Indian market on massive sell off witnessed the most one-day loss on March 23 and thereafter have shown remarkable resilience.

But the rally is expected to not last long as the markets will primary be guided by earnings as well as news on coronavirus infection which is only going worse on a daily basis. While writing this report India has recorded the highest one day rise in such cases of near 900 new coronavirus positive cases from across the country.

Also, weak economic outlook post covid 19 as well as news relating to lifting of lockdown will also cause market buoyancy.

GoodReturns.in

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