Foreign Institutional Investors continued their buying spree, lapping up Indian equities worth Rs 893 crore, provisional data from exchanges showed. The Sensex and Nifty ended with mild gains after swinging between gains and losses throughout the day. The Sensex ended the session higher by 13 points at 59,846, while the Nifty-50 ended higher by 24 points at 17,624. Nifty Bank witnessed some selling pressure and ended lower by 206 points.
Flows from DIIs too turned positive as they net bought shares worth Rs 351 crore, provisional data from exchanges showed. Experts are of a view that Indian markets are at an attractive valuation currently and can see large inflows after underperforming emerging markets for the past few months. Strategists at Bernstein believe that second half of the year will be largely positive for the Indian markets.
In the last seven trading sessions, FIIs have bought Indian equities worth more than Rs 5,620 crore, data from exchanges showed. “Investors would keep a watch on several economic data including US, China & India Inflation, UK GDP and FOMC meeting minutes. IT companies will be in focus ahead of TCS & Infosys results on 12th & 13th Aprilrespectively,” said Siddhartha Khemka of Motilal Oswal Financial Services.