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MARKET EYE-Flows into Indian stocks give hope
March 14, 2012 / 4:57 AM / 6 years ago

MARKET EYE-Flows into Indian stocks give hope

MUMBAI, March 14 (Reuters) - Flows into Indian equities remain positive, even ahead of a critical week featuring inflation later in the day, which will be followed by the RBI policy meeting on Thursday and the federal budget on Friday.

That, combined with technicals indicating further gains ahead, is raising hopes that equities can sustain the rally seen so far this year, which has seen the SENSEX and the Nifty outperform the broader Asia-ex Japan MSCI index.

Much will depend on what takes place in the next few days, but so far, net inflows into Indian equities in March have reached 33.5 billion rupees as of Monday, according to SEBI data.

About halfway into the month, that is slower than the 252 billion rupees seen in February or the 132 billion rupees in January.

“Flows, reduction in implied volatility and option concentration indicate that Nifty can go till 5,600 ahead of the budget,” said Monal Desai, Vice President of derivatives at Prabhudas Lilladher. (Reporting by Abhishek Vishnoi)

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