💼Two strong factors have been at play in this consolidating market.
💼One, the relentless selling by FIIs has been favouring the bears and pulling the market down.
💼Two, the sustained buying by DIIs has been supporting the market preventing a crash in the market.
💼How the market will trend in the coming days will depend on the relative strength of these two factors.
💼In this context, it is important to note that the intensity of FII selling is coming down ( yesterday FII selling was Rs 2026 crores) and the inflows into mutual funds is steadily increasing which will enable DIIs to continue buying.
💼Monthly flows into equity mutual funds have touched an all-time high of Rs 41887 crores in October clocking a 22% month-on-month increase.
💼This can provide resilience to the market and fundamentally strong fairly valued stocks like the leading banking names will outperform.
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Posted on : 12 Nov 2024 10:49 AM
