Foreigners net bought $515 million of stocks in the week ended March 21, marking the first weekly inflow this year. They’ve plowed $3 billion into local bonds so far in March, the most since 2017.
Experts believe market would remain choppy for next few days. Apart from rupee depreciation, recent outflow of foreign institutional investment funds has also been worrying the market participants.
According to Dilip Bhat of Prabhudas Lilladher, it is best for the market to move back towards the 5000 mark, because valuations and fundamentals have not yet caught up to the market.
Equities will not do any spectacular until there are some significant policy shifts, says independent strategist Mark Konyn.
Aadil Ebrahim, Investment Manager, Bowen Capital Management Ltd gives CNBC-TV18 his reading of the market and how he sees the Nifty performing hereon.
The markets have had a tumultuous last couple of days with crucial levels being broken on the downside. Haresh Shivdasani, MD and head of equities at HSBC said his year-end Sensex target is at 21,000. “Indian market valuations are becoming more attractive,” he said adding, “India is viewed as a long-term growth opportunity.”