Mumbai, 7 June (IANS). According to the latest provisional data of the National Stock Exchange (NSE), foreign portfolio investors (FPIs) on Friday became a net buyer of Indian stocks and bought shares of Rs 1,009.7 crore.
This positive change was observed due to increasing confidence of investors.
Domestic institutional investors (DIIs) also remained active buyers for the 14th consecutive season and invested Rs 9,342.5 crore in equity.
One of the main attraction of the trading day was a major transaction of Bajaj Holdings and Investment Limited, which sold shares worth Rs 2,002.2 crore to Bajaj Finserv Limited through Block Deal.
This included selling 1.04 crore equity shares, which is 0.65 percent of Bajaj Finserv’s paid-up capital.
Earlier in the day, the company’s promoters also sold a large number of shares in pre-market transactions.
The Monetary Policy Committee of the Reserve Bank of India cut the repo rate by 50 basis points to 5.5 percent, after which there was a boom in market activities.
This decision of RBI is expected to borrow cheaper and promote economic growth.
The benchmark index closed for the third consecutive day, reflecting this positive spirit.
On the last trading day of the week, the Sensex rose by 746.95 points or 0.92 per cent to close at 82,188.99 and the Nifty at 25,003.05 with 252.15 points or 1.02 per cent.
During the trading session, both indices touched high levels, with the Nifty to 25,092.50 and the Sensex reached 82,299.89.
The strong performance of companies like Eternal Limited and Shriram Finance Limited helped to pursue this weekly boom.
This week, the Nifty increased by more than 1 percent and the Sensex also increased by about 1 percent, which broke the process of continuing fall for two weeks.
Experts say that the market regulators and the recently taken steps by the central bank have made the investment environment more attractive.
Partner Manoj Purohit in BDO India highlighted that measures such as extending the time limit of disclosure rules and restrictions on foreign investment in corporate date are causing confidence in global investors.
Purohit said, “These steps are considered positive for both equity and bond markets. There is enthusiasm in investors due to improving global trade situation and continuing to offer a solid economic fundamental by India.”
-IANS
SKT/
