FII-DII Fund Flow: Foreign investors (FIIs/FPIs) remained net buyers on December 19 as well, buying shares worth Rs 1831 crore in Indian markets on Thursday. According to provisional exchange data, domestic institutional investors (DIIs) also bought shares worth Rs 5723 crore yesterday. During yesterday’s trading session, DIIs bought shares worth Rs 12,376 crore and sold shares worth Rs 9,675 crore. In contrast, FIIs bought shares worth Rs 11,442 crore but sold shares worth a total of Rs 10,847 crore.
So far this year, FIIs have sold shares worth Rs 2.78 lakh crore, while DIIs have bought shares worth Rs 7.57 lakh crore. Prashant Tapse, Senior Vice President (Research), Mehta Equities, says that the reduction in interest rates in America can increase foreign investment in India, strengthen the rupee and improve liquidity.
market view
At market close, the Sensex closed at 84,929.36, up 447.55 points or 0.53 per cent. At the same time, Nifty closed at 25,966.40, up 150.85 points or 0.58 percent. The biggest Nifty gainers were Shriram Finance, Max Healthcare, Bharat Electronics, Power Grid Corp, Tata Motors Passenger Vehicles. While losers included HCL Technologies, Adani Enterprises, Hindalco, JSW Steel and Kotak Mahindra Bank. On December 19, all sectoral indices closed in the green. Auto, Pharma, Oil & Gas, Realty, Telecom and Healthcare rose 0.5-1 per cent.
Important resistance for the market
Traders remained cautious on Nifty near the level of 26,000. This is being considered as an immediate resistance zone. The index is moving in a small range of 25,700 to 25,900, which indicates uncertainty in the market. Important support levels for Nifty are at 25,700 and 25,600. Analysts say that the ability of the market to remain above the level of 25,500 is very important for the improvement in sentiment.
Amrita Shinde, Technical and Derivative Analyst, Choice Equity Broking Private Limited, says that in view of the current volatility and global uncertainties, a selective approach should be adopted. He advised investors to buy on dips with strict stop-losses and use leverage carefully. He said that new long positions should be taken only if there is a sustained breakout above 26,100, and also keep an eye on global cues and technical levels.
Disclaimer: The views expressed on Moneycontrol.com are the personal views of the experts. The website or management is not responsible for this. Money Control advises users to seek the advice of a certified expert before taking any investment decision.