Page 4 - While Nifty News Today

FIIs and DIIs were net buyers with an inflow of over ₹1,383 crore and ₹392 crore, respectively, in Indian equities on June 7th. Sensex and Nifty 50 rallied by nearly a percent with midcap and small-cap stocks shining.

FIIs ended May month on a strong note, resulting in the biggest monthly buying of the year so far. However, DIIs closed the month as net sellers. Both Sensex and Nifty 50 settled with over 2% upside in overall May 2023.

Riding on the back of robust bullish sentiment, Sensex and Nifty 50 neared their lifetime high levels on Monday. Consumer durables stocks witnessed the most buying, while substantial gains were also seen in auto and banking stocks. Oil and gas stocks, however, emerged as top underperformers.

Sensex and Nifty 50 stumbled by more than 1% on Monday after investors carried panic selling in IT stocks as concerns escalated following a disappointing fourth quarter by tech giants like TCS and Infosys. Markets were on a winning spree from March 29th to April 13 before correcting.

As per NSDL data, FPIs invested ₹8,767 crore in Indian equities so far in April month. On the other hand, they are net sellers in the debt market with an outflow of ₹1,025 crore, while removing ₹200 crore and ₹193 crore from debt-VRR and hybrid instruments.

Markets have been in a 9-days rally in a row! They have been in green on all days of April hence. From March 29 to April 13th, Sensex skyrocketed by over 2,817 points or 4.9%. While Nifty 50 jumped by over 876 points or 5.2%.

Broadly, the tone of the market was bullish with midcaps and small-caps outperforming on Thursday after RBI paused repo rate hike in an unexpected move. Sensex and Nifty 50 rallied for the fifth day in a row.

The next big thing for the Indian market would be RBIs first bi-monthly monetary policy for the financial year FY24. Also, last quarterly results of FY23 will contribute in swaying sentiments. On Tuesday, investors showed cautious tone in Sensex and Nifty 50 ahead of these major events.

Pushed by Swiss regulators UBS and Credit Suisse agreed on a merger deal. UBS will be the surviving entity. The Zurich-headquartered bank will acquire Credit Suisse for CHF 3 billion (approximately $3.25 billion).Also, markets focused on the upcoming Fed policy.

On Monday, except for Tech Mahindra, all other major stocks on Sensex were in the red. IndusInd Bank, SBI, M&M, Infosys, Bajaj Finserv, and Axis Bank were the top losers. Heavyweight Reliance Industries also hit a new 52-week low before ending lower by 1.7%.