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FPI buying powers Sensex, Nifty to new closing highs
Mint Mumbai
|June 17, 2023
Buying by foreign and domestic funds catapulted equity benchmarks to record closing highs on Friday, as investors bet that cooling inflation will lead to a prolonged pause on interest rates, a positive for corporate profitability.
The Nifty and the Sensex each closed up 0.74% at 18,826 and 63,384.58, marginally shy of their record intra-day highs of 18,887.6 and 63,583.07 on 1 December.
Foreign portfolio investors (FPIs) purchased stocks worth a provisional ₹794.78 crore, while domestic institutional investors (DIIS) purchased shares worth ₹681.33 crore on Friday. Accounting for Friday's provisional figure, FPI buying so far this fiscal year stands at ₹72,670 crore, while DII buying is at a modest ₹3,240 crore.
This story is from the June 17, 2023 edition of Mint Mumbai.
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