Friday, July 4, 2025
spot_img

FIIs sold equity worth Rs 25,853 crore in last seven days

Date:

Share post:

spot_imgspot_img

Shillong, April 25: While foreign institutional investors (FIIs) sold heavily in the past few days, the selling has been countered by domestic funds.

During the last seven days, FIIs sold equity worth a massive Rs 25,853 crores but the domestic institutional investors (DII) buying overwhelmed this FII selling and the market continued its upward momentum, says V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The overarching trend of this market is its bullishness despite negative triggers. The rising bond yields in the US and geopolitical tensions are not impacting the market at all, he said.

He said the Q4 results of Axis Bank are better than expectations and, therefore, the market will respond to that.

“The regulatory restrictions on Kotak Bank will weigh on the stock. Since the VIX is at low levels, the market will not witness any serious corrections. In the near term, consolidation is likely,” he added.

BSE Sensex is trading at 73,811 points down by 40 points. Kotak Mahindra Bank is down 9.9 per cent.

Motilal Oswal Financial Services said Kotak Mahindra Bank has been reporting stronger growth in retail products, aided by a higher mix of digital sourcing and a thrust on unsecured products. The bank has earlier guided to further increase the mix of unsecured products as the underlying asset quality remains under control, while high cross-selling and reduced costs of digital sourcing are aiding overall profitability.

“The RBI ban will thus disturb the growth trajectory of retail products and adversely impact overall margins and profitability,” the brokerage said. (IANS)

spot_imgspot_img

Related articles

Air India denies allegations of forcing AI 171 crash victims’ families to disclose financial dependency

New Delhi, July 4:  Air India has denied allegations from British law firm Stewarts Law that it forced...

2nd Test: Jadeja hails ‘much grown’ skipper Gill after Edgbaston masterclass

Birmingham, July 4:  Ravindra Jadeja lavished praise on Shubman Gill after the Indian captain’s monumental double century powered...

Traditional medicine crucial to achieving global goals of Universal Health Coverage: Ayush Ministry

New Delhi, July 4:  Global goals like Universal Health Coverage (UHC) can only be met when traditional medicine...

Swami Vivekananda ignited sense of pride, confidence in history and cultural heritage: PM Modi

New Delhi, July 4:  Prime Minister Narendra Modi on Friday paid heartfelt homage to Swami Vivekananda on his...