New Delhi, Feb 26 (IANS) Sustained buying by DIIs at Rs 21700 crore in February so far supported by HNIs and retail investors has completely eclipsed the FII selling, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
FIIs have lost in this tug of war with DIIs since the market has been scaling new highs despite FII selling, he said.
The global market construct continues to be favourable. With S&P 500 setting newer records, the mother market US has turned very resilient, he said.
Japanese Nikkei at record highs is another pillar of support for global markets.
Even though high valuation in India is a matter of concern, it is unlikely to impact the market much in the near-term. Cheap valuation in China is not attracting foreign investors, he said.
Deepak Jasani, Head of Retail Research, HDFC Securities, said Asian shares were mixed near seven-month highs on Monday as investors awaited inflation data from the United States, Japan, and Europe that will help refine expectations for future rate moves. Events to watch out for this week include the monthly expiry of February futures & options contracts scheduled on February 29, quarterly GDP numbers by India & US, monthly global manufacturing PMI data, and auto sales.
BSE Sensex is trading at 72,828.47 points, down 315 points on Monday. Asian Paints is down 3 per cent.
–IANS
biz/san/uk
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
