The net inflow by Foreign Portfolio Investors (FPIs) in equities stood at Rs 5,319 crore in July while the same for the debt market was at Rs 4 crore, taking the total to Rs 5,323 crore (USD 842 million), according to the latest data from depositories.
For Rahul Mohindar of viratechindia.com banking remains a selective play. He prefers the heavy weights like Axis Bank and Kotak Mahindra Bank.
Devang Mehta, Anand Rathi Financial Services clearly believes market is giving an opportunity to accumulate because most of the global uncertainties like Greece crisis, Chinese market seem to be discounted an market is now looking forward to new trajectory of earnings, parliament‘s monsoon session.
The market shrugged off the fears of Greece exit from eurozone after the historic no vote in the debt-laden country yesterday. The broader markets outperformed benchmarks.
The choice before Greece is stark - it will suffer whether it stays in the eurozone or leaves. If it stays in, it will have to enforce further cuts in expenditures and social security entitlements and raise taxes. If it exits and repudiates part or most of its external debt, it will get no fresh loans from any bank.
Speaking to CNBC-TV18 about the future outlook on European market, Bruno Verstraete, Lakefield Partners says will remain volatile and weak depending upon the political developments that take place amongst European Central Bank (ECB) and the Internaionla Monetary Fund (IMF) and the European nations.
As Greece heads for a loan default by Tuesday (30 June), it is not clear how the situation will play out if the default does happen, and the referendum planned on 5 July in Greece endorses the government's refusal to accept the final offer of the creditors.
Darren Sinden, trader at Silverwind Securities, says Greece is only a side-show and that the main focus really is on Spain, and the potential for contagion into the Italian bond market.
Dr Benn Lawrence Steil, director of international economics at the Council on Foreign Relations (CFR), New York spoke to Moneycontrol.com about global markets- equity, commodity and bonds- and where they are headed.
While France is pushing for financial reforms at the G-20, Muthuraman says that financial regulation is not the answer to all problems. Check out his comments.
The US markets finished near lows in volatile trading as investors digested a handful of headlines from Greece. The CBOE volatility index surged more than 15% to end near 35.
Gold today rose toward a record set yesterday as concern that the US and Europe will struggle to contain their debt burdens spurs demand for the metal as a protection of wealth.