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Foreign institutional investors (FIIs) have shifted their strategy in India, showing signs of renewed interest in Indian equities with significant net buying on March 21. Improved domestic fundamentals such as growth pick-up and declining inflation, along with positive sentiment in the debt market, are influencing this change.
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Indian equity markets extended their winning streak for the fifth consecutive session, driven by attractive large-cap valuations and optimism around moderating foreign outflows. The Nifty and Sensex posted over 4% weekly gains, with technical indicators suggesting continued bullish momentum in the short term.
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Indian equity benchmarks topped the list of Asian indices in terms of weekly gains for the period ended March 22. The Nifty and Sensex recorded the strongest performance among regional markets, as per the data compiled by ET Bureau.Indices from other Asian economies saw varied performance, with some posting solid gains and others ending the week in the red. The weekly change is measured as the percentage gain or loss over March 13.
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