This comes following a net outflow of equities worth USD 3.04 billion by foreign portfolio investors (FPIs) during the April-June quarter, according to Morningstar Investment Adviser India.
Morgan Stanley pegged BSE Sensex earnings growth at 5 per cent, 23 per cent and 24 per cent for financial year 2018, fiscal 2019 and fiscal 2020, respectively.
The report said while supply side has undergone a structural change, reform momentum is well above its historic past and more aggressive than emerging as well as global peers.
The global brokerage firm believes that the flows could drive markets up in the near-term but has retained the year end Nifty target at 8,800.
There is no doubt that the Indian equity market is in a structural bull market that has the potential to create wealth for investors is the word coming in from Vikas Khemani, President & CEO, Edelweiss Securities.
Market expert, Nilesh Shah of Kotak Mah AMC said it is very difficult to gauge the bottom for the market but it has become a stock specific market than sector specific.
Indian markets have had a double whammy impact with the outcome of US elections coinciding with the demonetisation leading to heavy withdrawals. Despite this, Indian markets are not the weakest among BRICS nations.
The low return environment that the country seems to be trapped in may get a breather in 2017, thanks to better equity valuations, bottoming of the growth cycle (disrupted temporarily by the recent demonetisation) and higher correlations with global equities market, the report said.
SP Tulsian, Prakash Diwan, Ashwani Gujral and Mitesh Thacker gave their closing strategy and trading trips.
Mitesh Thacker of miteshthacker.com said Bank Nifty is where the problem lay. If Nifty, he said, breaks below 8580, there could be some more corrections going ahead.
Ahead of an earnings-heavy day and initiation of the Bank of Japan's (BOJ) two-day policy meeting, Asia markets opened mixed on Thursday.
Over the next 3-5 year period equity as an asset class is sure to outperform and give superior returns is the word coming from Krishna Kumar Karwa, Emkay Global Financial Services.
Nifty indicates markets may move higher than the current levels, says Mehraboon Irani of Nirmal Bang Securities.
Market expert, Ashwani Gujral says that this rally will continue in the coming week and Nifty will be at a higher mark than today.
With the Indian equity market today posting stellar gains backed by largecap stocks and Nifty scaling back the historic highs of 8000, it still remains a buyers‘ market believe market experts.
According to the global financial services major, foreign equity investors have made year-to-date inflows of USD 2.2 billion, but this optimism was not shared by debt investors, who pared holdings by USD 620 million.
Asian markets opened mixed and are indicating a subdued start with the Japanese benchmark index falling from May's high. This was on the back of a slew of recent comments from the US Federal Reserve about a possible interest rate hike in June.
While US markets closed off session highs, indexes in Europe closed mostly higher. It's judgement day for five states in India; it could be a cliffhanger in Tamil Nadu, Mamata Banerjee is all set for a second-term in West Bengal and Congress might have to stare at a defeat in Kerala and Assam.
SGX Nifty was up 0.50 percent at 7:30 am, whereas all other Asian markets were in red. Shanghai composite was down 3 points while the Hang Seng was trading 0.21 percent lower than its previous close.
We may be sitting on a large Nifty rally of about 900 points, says Ashwani Gujral of ashwanigujral.com.
The change in the earnings estimate has been largely led by lower earnings in banks, which is likely to drag in the short-term, says Anup Maheshwari of DSP BlackRock Investment.
In other asset classes, crude prices extended a surge on hopes that a global oversupply may be approaching a tipping point after nearly two years. The gold prices gained to USD 1250 an ounce.
In CNBC-TV18's special edition D-Street, Vibhav Kapoor of IL&FS and Christopher Palmer Founder & CIO Benson Avenue Capital talk on Indian and global markets, respectively.
The positive global cues and a stronger dollar-yen pair aided a big bounce in the Japanese markets this morning. In addition, today, all eyes will be set on China's opening after a week-long holiday.
With the markets world over closing lower and SGX Nifty up only 6 points, the Indian equity market is likely to open soft to negative.