Source : INDIA TODAY NEWS
Benchmark stock market indices opened higher on Tuesday, continuing their winning streak for the second consecutive day as FII buying resumed on Dalal Street over positive recent developments.
The S&P BSE Sensex added 260.37 points to 84,326.12, while the NSE Nifty50 gained 77.30 points to 25,944.60 as of 10:15 am.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that tailwinds for the market are getting stronger with each passing day.
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“Growth prospects for the economy are getting better than earlier optimistic estimates. A significant macro development is the turnaround in private capex, which has been sluggish for years,” he added.
He further said that the H1 FY 26 numbers of a sample of listed companies compiled by BS show a 13.1% YoY increase in fixed assets.
“This is a clear indication of acceleration in private capex and this data is complemented by the recent up tick in bank credit,” said Vijaykumar.
FII activity in February so far shows a mixed but slightly positive trend.
On a month-to-date basis, foreign institutional investors have been net buyers to the tune of Rs 4,900.17 crore, with gross purchases of Rs 109,316.39 crore and gross sales of Rs 104,416.22 crore.
Looking at daily flows, FIIs were net sellers on February 1, with net outflows of Rs 588.34 crore, followed by another selling day on February 2 at Rs 1,832.46 crore.
Sentiment turned positive on February 3, when FIIs recorded strong net buying of Rs 5,236.28 crore. On February 4, flows were almost flat, with marginal net buying of Rs 29.79 crore.
Selling pressure returned on February 5, with net outflows of Rs 2,150.51 crore. This was followed by renewed buying on February 6, as FIIs invested a net Rs 1,950.77 crore.
On February 9, foreign investors continued to remain buyers, with net inflows of Rs 2,254.64 crore, helping keep the overall monthly trend in positive territory despite intermittent selling days.
“Financials have the potential to outperform in the rally while IT might continue to disappoint weighed down by the Anthropic shock. The outperformance of the broader market, particularly the recovery of the smallcaps will add to the enthusiasm of the retail investors enabling the market to remain resilient,” said Vijaykumar.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
– Ends
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SOURCE :- TIMES OF INDIA
