Foreign investors returned to Indian markets due to strength in domestic shopping

Mumbai, June 7 (IANS). According to the latest provisional data from the National Stock Exchange (NSE), foreign portfolios (FPIs) became a net buyer of Indian shares on Friday and bought shares of Rs 1,009.7 crore. This positive change has been observed as a result of increasing confidence from investors. Domestic Institutional Investors (DIIs) also remained active buyers for the 14th consecutive season and invested Rs 9,342.5 crore in fairness. One of the most important attraction of the trading day was an important deal of Bajaj Holdings and Investment Limited, which sold shares worth Rs 2,002.2 crore to Bajaj Finserv Limited through block trade. This includes the sale of 1.04 crore shares, which is 0.65 percent of Bajaj Finserv’s paid-up capital. Earlier in the day, the company’s promoters also sold a large number of shares in transactions before the market. The Monetary Policy Committee of the Reserve Bank of India lowered the Repo rate by 50 basis points to 5.5 percent, after which there was a surge in market activities. This decision from RBI is expected to borrow cheaper and promote economic growth. The measure index closed for the third consecutive day, reflecting this positive spirit. On the last trading day of the week, the Sensex rose 746.95 points or 0.92 percent to close at 82,188,99 and the Nifty at 25,003.05 with 252.15 points or 1.02 percent. During the trade session, both indexes touched high levels, with the Nifty to 25.092.50 and the Sensex reached 82,299.89. The strong performance of companies such as Eternal Limited and Shriram Finance Limited has helped pursue this weekly boom. This week, the Nifty rose by more than 1 percent and the Sensex also rose by about 1 percent, which broke the process of constant fall for two weeks. Experts believe that the market regulators and the recently taken by the central bank made the investment environment more attractive. The partner Manoj Purohit in BDO India emphasized that measures such as the extension of the time limit of the disclosure rules and construction on foreign investment in the corporate date cause trust in global investors. Purohit said: “These steps are considered positive for both stock and bond markets. There is enthusiasm for investors as a result of improving the global trading situation and providing a solid economic fundamental through India.” -Ians skt/