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Indian markets go with the FIl flow
Mint Mumbai
|June 26, 2023
With easing inflation, interest rates on pause and a relatively better macroeconomic position, India is in a sweeter spot than many Asian peers.
The benchmark index BSE Sensex hit an all-time intraday high of 63,601 on Thursday. The Nifty 50 is hovering near highs. But this appears to be more a case of the rising tide (read: sustained fund flows) lifting all boats.
"What we are seeing right now is a liquidity-driven rally, mainly because foreign institutional investors (FIIS) have made a comeback after a hiatus, and domestic institutional inflows have largely remained resilient," Nitin Bhasin, head of institutional equities at Ambit Capital, said. FIIs have been net buyers of Indian equities for the fourth month in a row in June. In 2023 so far, they have pumped 163,482 crore in Indian stocks, showed National Securities Depository Ltd data.
This story is from the June 26, 2023 edition of Mint Mumbai.
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