After remaining net sellers for the 23 sessions, the Foreign institutional investors (FIIs) turned net buyers on February 4, as they bought equities worth Rs 809 crore.
Indian stock markets set to open at fresh record highs for a fourth session in a row on Thursday, after the U.S. economic data kept intact the expectations of a U.S. Federal Reserve rate cut by March 2024 and as oil prices dropped. Things to watch out would include weekly options expiry, oil prices after Brent slips below $ 75/ barrel mark and FM's comments at CII event. In today’s session, Govt's divestment in IRCON, Warburg Pincus' Stake Sale in IDFC First Bank and Bharti Airtel, Brokerage downgrade on Paytm, price hike by M&M and sugar stocks will be in focus as govt steps in to check prices. Catch Moneycontrol's Nickey Mirchandani in conversation with Ruchit Jain, Lead Research Analyst at 5Paisa and Pankaj Pandey, Head Retail Research ICICIDIRECT.
The Indian rupee gained 25 paise to Rs 44.95 against the US in early trade today, snapping a six-session losing streak on fresh selling of the American currency by banks and exporters in view of dollar weakness in global markets amid a recovery in the domestic equity market.