D Street Cheers as Lo­cal Funds Go Shop­ping

The Economic Times - - Companies: Pursuit Of Profit -

and Nifty Mid­cap 100 hit records in in­tra­day trade, Bank Nifty closes at a high

Mumbai: Do­mes­tic in­vestors drove the mar­kets to record lev­els on Tues­day, more than pick­ing up the slack as for­eign port­fo­lio in­vestors (FPIs) con­tin­ued their ex­o­dus and point­ing to the scal­ing of new highs in com­ing days and weeks if the trend con­tin­ues — the Nifty for in­stance is a few points away from its life­time max­i­mum.

Both key stock indices closed at five-month records, with the Nifty scal­ing the 8,900-mark for the first time since Septem­ber.

The mar­ket cap­i­tal­i­sa­tion of com­pa­nies listed on the BSE touched an all-time high of ₹ 1.18 lakh crore. Among broader indices, the BSE 500 and Nifty Mid­cap 100 hit records dur­ing the day and the Bank Nifty closed at a high. Fund man­agers said con­tin­ued strong liq­uid­ity from do­mes­tic in­sti­tu­tional in­vestors has helped the mar­ket shrug off con­cerns over for­eign port­fo­lio out­flows and growth slow­ing due to de­mon­eti­sa­tion.

Do­mes­tic in­sti­tu­tional in­vestors (DIIs) bought shares worth ₹ 1,535 crore on Tues­day, tak­ing to­tal pur­chases this year to ₹ 7,300 crore, while FPIs sold shares worth ₹ 1,436 crore, the most in a day since De­cem­ber.

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