Early on D-Street: Hold long positions in Nifty with a stop below 11,553
Episode 1816, Oct 22, 2019, 01:30 AM
Brushing aside slowdown fears, bulls charged ahead on D-Street, helped by consistent buying from foreign institutional investors (FIIs) for the past 6 trading sessions which helped Sensex climb Mount 39K while Nifty50 also closed above 11,600 for the week ended October 18.
Foreign portfolio investors (FPIs) have infused a net sum of Rs 5,072 crore into the Indian capital markets in October so far amid the government's efforts to revive domestic demand.
The S&P BSE Sensex rose 3.07 percent while the Nifty50 added 3.15 percent compared to 2.7 percent gain seen in the Smallcap index, and 4.6 percent rally witnessed in the Midcap index, for the week ended October 18.
Small & midcap stocks witnessed continued buying as more than 60 stocks in the S&P BSE500 index rose 10-50 percent in the same period.
Stocks that gave a double-digit return include names like Fine Organic, Avanti Feeds, TVS Motor, GIC Housing, Emami, MMTC, BHEL, YES Bank, The New India Assurance, etc. among others.
On the institutional front, FPIs were net buyers in Indian markets for Rs 36 crore while the DIIs were net also net buyers to the tune of Rs 586 crore, provisional data showed.