Street signs: FPI buying lifts sentiment, HNI shift focus, and more

With IPO deals drying on the mainboard, high net-worth individuals (HNIs) and savvy investors have shifted their focus on small and medium enterprises (SME) at bourses.

FPI buying lifts sentiment

The market has rebounded 9 per cent from March lows and there is likely more steam left in the rally. Experts say foreign portfolio investors (FPIs) turning net-buyers and cooling of the volatility index can provide further impetus for stocks to rally. After aggressively dumping stocks, FPIs flows turned positive in the previous two trading sessions. Further, the India Vix cooled off to 22.6, from 32 a month ago. Ruchit Jain, lead-research, 5paisa.com, says if the Nifty manages to surpass 17,330, the index can extend its up-move towards 17,500-17,800. The index ended last week at 17,287.

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