💼This month, through 11th October, FPIs have sold equity for Rs 58710 crores. ( Source: NSDL) This massive selling didn’t have a serious impact on the market since the entire FPI selling has been absorbed by DIIs who are receiving sustained fund inflows.
💼This trend of FII selling and DII buying is likely to sustain in the near-term since Chinese stocks continue to be cheap compared to the elevated valuations in India.
💼IT and banking stocks are likely to remain resilient on the back of expected good Q2 numbers.
💼However, there is only limited scope for the market to move up sharply from here.
💼FY 25 earnings expectations have been downgraded by most analysts.
💼The uncertainty surrounding the US presidential elections next month also is likely to weigh on markets along with the geopolitical tensions in the Midfle East.
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Posted on : 14 Oct 2024 10:04 AM
