Buoyed by robust buying from foreign portfolio investors (FPIs), Indian equity benchmarks soared to new heights on both intra-day and closing levels on Friday. Strong foreign inflows also bolstered the rupee, which reached a two-month high against the dollar.
FPIs recorded their largest single-day equity purchase since February 24, 2021, with net investments totaling ₹14,064 crore. They flocked to Indian stock markets, spurred by expectations of at least two more rate cuts by the US Federal Reserve in the coming months. Their appetite for riskier assets was further fueled by a decline in US jobless claims and the rebalancing of the FTSE All World and FTSE All Cap indices.
The Sensex closed at 84,544, up 1,360 points or 1.6 per cent, while the Nifty 50 gained 375 points, closing at 25,791, up 1.5 per cent. Both indices posted their best single-day gains since 12 September. Over the week, the Sensex rose 2 per cent and the Nifty 50 1.7 per cent, marking their second straight week of gains.
The total market capitalization of all BSE-listed companies reached ₹472 trillion, with ₹6.2 trillion added on Friday alone.
In September, so far, FPIs have net bought equities worth ₹46,260 crore, the highest since June 2023.
This has also supported the rupee, which saw its strongest weekly gain (0.4 per cent) against the US dollar this year.
この記事は Business Standard の September 21, 2024 版に掲載されています。
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この記事は Business Standard の September 21, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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