Daily Stock Market Reports

Vijay Kedia signals when ‘real game’ of stock market will begin

After FIIs (Foreign Institutional Investors) ending as net buyers at Indian stock markets in last two sessions, Dalal Street is buzzing with speculations whether market has bottomed out and foreign investors may start their shopping when the market opens on Monday after an extended weekend. However, their main concern is DIIs (Domestic Institutional Investors), who have gone defensive after recent selloff caused by Russia-Ukraine war. Signaling strong rebound once there is ease in geopolitical tension, ace investor Vijay Kedia has said that ‘real game’ will begin when both DIIs and FIIs turn into net buyers.

Vijay Kedia expressed his views from his twitter handle citing, “The Real game will begin when #FIIs turn into buyers and #DIIs instead of turning into jobbers (as in the past), will continue to be buyers.”

See Vijay Kedia tweet below:

Despite DIIs buying in bulk, FIIs have remained net sellers in the Indian stock market since October 2021. In March 2022, FIIs have bought shares worth 121,023.61 crore where they sold out shares worth 162,640.79 crore in this period. So, FIIs have remained net seller in March 2022 as they have fished out 41,617.18 crore from the Indian secondary market in March 2022. However, in last two days, FIIs have ended up as net buyers. On 16th March 2022 they have invested 311.99 crore whereas on 17th March 2022 they have pumped 2800.14 crore in Indian secondary market.

Compared to FIIs, in March 2022, DIIs have bought shares worth 113,271.75 crore whereas they sold out shares worth 81,651.73 crore. This means DIIs have pumped 31,620.02 crore in Indian markets ending up as net buyers. DIIs have put 42,084 crore in February 2022, 21,928 crore in January 2022, 31,231 crore in December 2021 and 30,560 crore in November 2021 respectively.

Last week, NSE Nifty started on a positive note and surpassed the hurdle of 16800 on Monday. Post some minor profit booking in mid-week, the index resumed the momentum and ended around the 17000 mark ahead of the Fed event. The resistance was broken with a gap up opening which led to a broad based participation and Nifty ended the truncated week tad below 17300 with weekly gains of almost 4 per cent. BSE Sensex too ascended around 4.15 per cent last week and ended at 57,863 levels. Nifty Bank index logged 5.44 per cent weekly gain and ended at 36,428 levels.

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