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Sensex drops over 150 points in early trade, Nifty below 14,850
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Sensex drops over 150 points in early trade; Nifty below 14,850
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Sensex drops over 150 points in early trade; Nifty below 14,850
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Sensex up 84 points at closing, Nifty below 14,900
April 08, 2021
Markets lose momentum in the second half on Covid scare
Markets surrendered most gains, and even dipped into the negative territory briefly in closing hours, amid new restrictions imposed by more States. The stock markets, however, managed to end on a positive note on Thursday.
Markets opened on a positive note and extended gains during the early trade on the back of RBI s liquidity measures. However, it lost momentum in the second half, dragged down by banking and financials.
Tamil Nadu, Madhya Pradesh and Uttar Pradesh have imposed fresh restrictions amidst the spread of Covid scare.
Bank, financial stocks get lion’s share from FPIs
April 08, 2021
The sector received ₹77,200 crore of fund flows in FY21
Banking and financial sector stocks are the biggest gainers of the record foreign portfolio investor (FPI) inflows into Indian equities in fiscal year 2021 (FY21). Driven by ample liquidity in global markets and early signs of economic recovery in India, FPIs pumped in a record investment of ₹2.74-lakh crore into Indian equities in FY21.
Of the total inflows, banks and other financial services (including FIs, NBFCs, AFCs, HFCs) alone netted ₹77,200 crore or 28 per cent of the total net inflow.
“Presently, the Indian economy is on a strong rebound and credit demand has started improving. The low-interest rate regime has become a major tailwind for segments like housing and automobiles,” VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, adding, “The prospects for large commercial banks, particularly the leading names in