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The Sensex took 27 years to breach the 10,000-mark for the first time in February 2006, while it gained the next 10,000 points in just 22 months as a flood of fresh foreign flows drove stock prices higher at a faster pace.
FPIs’ contribution to the institutional flow at 73% in December increased sharply from 10% a month ago and 34% a year ago reflecting a change in stance. After selling heavily during the first half of 2023, FPIs deployed Rs 66,134 crore in December alone. It was their highest monthly inflow, surpassing the previous high of Rs 62,016 crore in December 2020. FPIs had invested Rs 9,000 crore in November 2023 in domestic equities.
Suri also said he’s closely tracking defense and railways sector stocks. He said that defense order inflows are strong, and that the execution is in progress.
A long-time favorite of FIIs, financials alone attracted Rs 22,891 crore worth of funds in the first 15 days of the month, shows data pulled from NSDL. Healthcare stocks, which have also been among the list of underdogs, saw the second highest sectoral buying at Rs 3,449 crore.
India Business News: The sensex capped a strong winning week with a 970-point rally on Friday to close above the 71,000-mark for the first time in history. It closed at 71