Foreign portfolio investors (FPI) invested a net Rs 25,787 crore into equities but pulled out Rs 2,124 crore from the bonds market during February 1-26, the depositories data showed
The futures and options series for the month of February 2021 was dominated by the bulls with the Nifty rising double digit to post the best series since November 2020.
The Nifty snapped its 5-day losing streak and provided some relief to the bulls despite it being a choppy session. The 50 –stock index managed to defend its previous day’s low near 14650.
India’s Nifty index closed 1.5 percent above its 20-day moving average support at 14759 and formed a bullish continuation pattern on weekly chart. The 50-stock index snapped its 2-week gaining streak.
In 2020, pharma sector was a preferred choice and the sector did very well, while banking stocks underperformed due to potential non-performing assets concerns.