Last Updated: February 19, 2023, 15:00 IST
Markets could face unstable tendencies amid derivatives expiry throughout the week, they added.
FPIs turned web patrons final week with an funding of over Rs 7,600 crore towards web outflows of Rs 3,920 crore within the previous week (From February 7-12).
With the third quarter earnings calendar coming to an finish and no main home set off in sight, fairness buyers will give attention to international tendencies and overseas fund motion this week, analysts stated.
Markets could face unstable tendencies amid derivatives expiry throughout the week, they added.
“Global cues and F&O expiry could trigger volatility this week. Although FIIs have proven some curiosity in buying over the previous few days, there have been a number of block purchases final week, so their circulate will probably be essential,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
FPIs turned net buyers last week with an investment of over Rs 7,600 crore against net outflows of Rs 3,920 crore in the preceding week (From February 7-12).
Brent crude oil movement and the trend in the rupee would also be in focus this week.
“With all major events behind us, the performance of the global markets, especially the US, will be in focus for cues. Besides, crude and rupee movement will continue to offer indications in between,” Ajit Mishra, VP Technical Research, Religare Broking Ltd, stated.
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The BSE benchmark final week climbed 319.87 factors or 0.52 per cent. “Dominated by the discharge of key macroeconomic numbers and chronic FII shopping for, home markets witnessed a constructive development over the last week.
“However, the unfavourable mixture of higher-than-expected inflation and a stronger job market within the US market dragged markets decrease in direction of the tip of the week, elevating issues about tighter financial coverage,” said Vinod Nair, Head of Research at Geojit Financial Services.
The lack of major triggers in the domestic market will attract global cues to dictate the market’s trend going forward, Nair added.
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