FIIs turned back to India and pumped Rs. 4,671 crore

On May 19, FIIs and FPIs made a significant net purchase of Rs.4,671 Cr worth of equities. Simultaneously, DIIs recorded a net buying activity of Rs.146 Cr in equities. According to provisional data from the exchanges, FIIs bought Rs.19,822 Cr worth of shares while selling Rs.15,151 Cr, resulting in a net positive inflow. DIIs, on the other hand, acquired Rs.12,439 Cr in shares and sold Rs.12,293 Cr worth of equity during the session.

Record Highs for Indices

On May 23, the benchmark indices surged to record highs. The Sensex closed at 75,418.04, rising by 1,196.98 points or 1.61%. Similarly, the Nifty gained 369.90 points or 1.64%, closing at 22,968. The Nifty Midcap 100 index also reached a new peak of 52,452.65 before closing at 52,418.55, marking a 0.48% increase. Over the past year, Nifty has surged by 25.61%, and  the Sensex has gained 22.09%.

Top Gainers and Losers

Among the Nifty stocks, the top gainers were Adani Enterprises, Adani Ports, Axis Bank, L&T, and M&M. Conversely, the stocks that faced losses included Sun Pharma, Power Grid Corp, Hindalco, Coal India, and NTPC.

Market Outlook

According to street expectations, there is optimism about the continued positive momentum in the market, attributed to an improving political environment, ongoing short covering by FIIs, and good domestic macroeconomic indicators. Moreover, sectors such as defense, banking, and railways are areas expected to remain in focus.

Conclusion: The market’s robust performance, driven by strong institutional buying and positive economic indicators, has led to record highs for the Sensex and Nifty. This momentum, highlighted by significant net purchases from FIIs and DIIs, is expected to continue, with key sectors like defense, banking, and railways remaining in focus.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.