Indian investors gain ₹9 trillion as stock market travels upward

According to BSE data, the Indian stock market registered its best weekly performance during the week, supported by fresh buying in banking and IT stocks as well as a return of foreign investments to Indian markets after months. Indian stock markets are witnessing continuous gains for six sessions.

In the last seven weeks, Indian stock market This time marked its best week since February 2021 as it closed at its highest level. Cumulatively, the equity index, Sensex and Nifty, grew by about 3-4% during the week. IndusInd Bank, UltraTech Cement, Axis Bank, Grasim Industries and Hindalco Industries were some of the top gainers, while Dr Reddy’s Labs, HDFC Life Insurance, NTPC and Sun Pharma Industries were among the laggards for the week.

On this Friday, the Sensex closed with a gain of 390 points at 56,072, while the Nifty crossed the 15,700 mark and closed with a gain of 114 points. Banking stocks had a field day, with HDFC twins and Axis gaining 2% each. UltraTech rose 5% on its strong quarterly report. IT and pharma/healthcare stocks remained laggards throughout the day. Infosys fell 1.5% in today’s session.

For the past nine to ten months, foreign portfolio investors (FPIs) were selling equities in the Indian stock market for a variety of reasons, such as tightening of monetary policy in advanced economies, and a rise in dollar and bond yields in the US. According to NSDL data, how much amount has been withdrawn by FPIs? 226,420 crore so far during this year. However, they were net buyers in July 2022.

Financial markets will react to the outcome of the US Fed’s monetary policy meeting in the coming week, apart from the first quarter earnings of Indian companies.

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