Share Market started well on Monday. The SENSEX was trading up 348 points at 49080. Banking stocks saw good gains. Indusind Bank’s stock was up 3 percent. At the same time, LT’s stock had fallen the most. NSE’s Nifty 50 was trading up 90 points at 14768.
According to Shivani Kurian, senior executive vice-president and head (equity research), Kotak Mahindra Asset Management Company, the market’s focus this week is on vaccination speed, number of infected and company management status. Apart from this, investors will also pay attention to the inflation based on wholesale price index released on Monday.
According to Nirali Shah, head (equator research), Samco Securities, the Indian stock market has shown strength despite the increase in infection cases. But if the situation worsens, the strength will not last long.
Explain that in May, foreign portfolio investors (FIIs) have withdrawn Rs 6,452 crore from the Indian market so far. The second wave of the Kovid-19 pandemic led to the withdrawal of investment funds from the market as investor sentiment was affected.
According to the depository data, foreign investors pulled out Rs 6,427 crore from the stock markets and Rs 25 crore from the bond market between May 1 and 14. During this period, Rs 6,452 crore was netted from the market.
According to VJ Vijaykumar, chief investment officer of Geojit Financial Services, the second wave of the Covid-epidemic was the reason for the FPI withdrawal, the ‘lockdown’ imposed in various states for its prevention and due to GDP (GDP) growth and corporate earnings and profits. There is a concern about the effect on it. In the previous month, there was a net outflow of Rs 9,435 crore from the stock market and bond market.
According to Grey’s co-founder and chief operating officer Harsh Jain, the actual impact on the economy due to the ‘lockdown’ of the epidemic and its prevention is not yet clear, but investors are upset and cautious.
According to Himanshu Srivastava, Associate Director-Research Manager, Morning Star India, the focus of the FPI is now on the economic data as to how quickly India achieves economic momentum. If the problem persists for a long time, it will have a negative impact.
