Nifty gained 2% weekly but declined Friday due to US inflation concerns, geopolitics, FIIs selling. Markets closed May 1 for Maharashtra Day. Key factors to watch include US Fed FOMC, Q4FY2024 earnings, and technical factors. "Going ahead, FII activity remains a key factor to watch especially considering their already low holdings in the Indian market."
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Varun Beverages and Britannia Industries hit a six-week low in FII ownership, while Dabur India and Godrej Consumer Products recorded their lowest FII ownership since December 2015.
Based on the OI percentage, a total of 66 stocks were on the short-covering list which included Voltas, L&T Technology Services, Dr Lal PathLabs, Bata India, and Hindustan Copper.
The FIIs made substantial investments in the financial services sector at Rs 3,212 crore, consumer services sector at Rs 1,713 crore, and automotive and telecommunications sectors at Rs 1,660 crore each