Foreign Investors have purchased a net amount of Rs 1,737.62 crore worth of shares on April 9, 2020, which was followed by Rs 1,943.41 crore and Rs 741.77 crore of buying in the last two consecutive sessions.
FIIs seem to have turned out positive about Indian equities for the time being at least. During the last trading day of the truncated week, there were net buyers for the third consecutive session on
This has come after foreign investors have sold Indian equities in huge quantities in the month of March, 2020. The total equities bought by FIIs
sum to a total of Rs 1,345.04 crore for April so far against Rs 65,816.70 crore of selling just last month.
Looking on the other side, domestic institutional investors used this rally to sell shares as they made a total business of Rs 466.02 crore on April 9 and Rs 1,757.79 crore in the session before that.
The stock market has experienced a spectacular journey from multi-year lows hit on March 23, 2020 with the benchmark indices recording the biggest ever loss in a single day. Both indices have recovered more than 21 percent of losses each from those low points. Investors came out strong by Rs 12.4 lakh crore during this week itself and by nearly Rs 19 lakh crore since March 23.
"Markets will continue to fluctuate based on news coming out regarding the spread of infections and any lifting of lockdown in India," Vinod Nair, Head of Research at Geojit Financial Services told the media.
He said, “In India, there was expectation that the worst affected sectors and MSMEs may get some relief in another package to be announced shortly.”
Jimeet Modi, Founder & CEO at SAMCO Securities & StockNote also feels, “The COVID-19 situation remains fluid and uncertainty still looms on the possible economic impact of the outbreak.”