FIIs make u-turn, become big buyers of Rs.20K Cr stocks in 2 weeks

FIIs, who’ve made a ‘U’ flip in their technique, have turned big buyers having invested round Rs 20,000 crore, together with bulk buy, in the final two weeks, says V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

BSE Sensex is up 27 factors at 71,511 factors on Monday. Sun Pharma is up 1.6 per cent.

The rally is being pushed by segments like banking and IT which had been beneath performers for fairly a while. During the final two weeks whereas the Nifty is up by 6 per cent, Bank Nifty is up by 7.4 per cent and Nifty IT is up by round 11 per cent. Since there’s large supply based mostly shopping for in these segments, they’ve the potential to stay resilient, he mentioned.

An essential level from current market expertise is that in the tug of warfare between FIIs and DIIs, the latter have been trumping the previous persistently by shopping for from them after they promote and promoting to them the exact same stocks which they bought, at a lot larger costs, he added.

Global and home components, besides valuations, are beneficial for the market. It is sensible to stay invested, significantly in massive caps. Some revenue reserving will be thought-about in mid and small caps the place valuations are very excessive, he mentioned.

(With inputs from IANS)