Foreign institutional investors (FIIs) were net sellers for four out of five sessions in Indian markets last week and the net outflow stands at ₹3,835.75 crore, while the inflows and outflows by domestic institutional investors (DIIs) counterbalanced each other last week, according to stock exchange data.
Global Cues
On the global front, the US market has shown some profit booking from higher levels due to heightened attention on the rising US bond yield, rising commodity prices (crude oil, gold, and silver), and also the geopolitical situation (the Iran-Israel proxy conflict and the Russia-Ukraine war). These factors will be closely monitored, as they have the potential to influence market sentiment, according to Santosh Meena, Head of Research, Swastika Investmart Ltd.
Additionally, the US will announce its inflation rate on April 10, 2024. The US non-farm payrolls and unemployment rate for March that were disclosed on April 5, 2024, and will play a significant role in shaping the market mood in the near term. The European Central Bank (ECB) will also unveil its interest rate decision in the coming week. Read more:
