Wed, Feb 7, 2024 3:33 PM
Nifty, Sensex erase early gains on profit booking; RBI MPC
A Flip by Avya Verma
The Indian stock market delivered an impressive performance last Samvat, with the benchmark Nifty 50 soaring almost 25 per cent. However, according to Shankar Sharma, ace investor and the founder of GQuant, an AI-tech company, Samvat 2081 could be challenging and a year of moderate to negligible returns. India’s performance in the last year has been exceptional, to say the least.
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Investors have plowed money into funds tracking bitcoin, betting on a return of Republican Donald Trump to the White House even as they expect wild price swings in the world’s largest cryptocurrency during the election week, data showed. Exchange-traded funds (ETF) tracking the spot price of bitcoin notched net inflows of $917.2 million on Wednesday, the biggest one-day increase since March.
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Marking the highest-ever monthly selling spree, the foreign portfolio investors (FPIs) in India offloaded a staggering Rs 1,13,858 crore through the exchanges in the month of October. However, they remained active buyers in the primary market for the month. As opposed to the huge sell-off in the secondary market, the FPIs invested Rs 19,842 crore in the said time period.
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