INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic stock, bond, currency and commodity markets are shut on Tuesday on account of Maharashtra Day
Globally, a host of stock markets, including those of China, South Korea, Singapore, Hong Kong, Italy, Spain and Germany, are observing
Labour Day, and are closed too.
Foreign flows into India have been negative of late
FPIs in fact dumped Rs 5,552 crore worth of domestic equities in April
However, domestic flows -- at Rs 8,511 crore -- have done the rescue act, helping the stock market go higher.
The Sensex on Monday reclaimed
the 35,000 mark and the Nifty revisited 10,700 for the first time in three months, mirroring strength in Asian equities on easing
geopolitical tensions on the Korean peninsula
The 30-share barometer rose 191 points, or 0.55 per cent, to close at 35,160.
The NSE benchmark gained 47 points, or 0.44 per cent, to end
Both indices posted their biggest monthly gains in April since March 2016.
"Bond yields are likely to soften when the market opens on
Equity markets too are likely to open higher on Wednesday, other things being equal
Our markets have relatively done better than the global markets in April
This trend is likely to continue," said V K Sharma, Head, Private Client Group Capital Market Strategy, HDFC Securities.
Fourth quarter
earnings so far have been encouraging and stock-specific action is likely to take hold in the remaining part of the week.
"We expect
stock-specific movements to continue based on better than quarterly performance reported by companies versus Street expectations," said
Hemang Jani, Head - Advisory at Sharekhan
The money market was shut on Monday on account of Buddha Purnima
The rupee had on Friday settled at 66.66 per dollar compared with 66.75 in the previous session
The benchmark 10-year bond price fell to Rs 95.97 on Friday, yielding 7.77 per cent.
