FPI flows

Nifty 50, Sensex and the Nifty Bank indices are managing to sustain higher. The benchmark indices moved up last week, but gradually. The indices were up in the range of 0.4-0.75 per cent.

The Indian benchmark indices witnessed a strong bounce last week. Sensex, Nifty 50 and the Nifty Bank index broke their supports initially, but did not get a strong follow-through selling. The indices bounced back sharply from their lows and have closed the week on a positive note. The intra-week price action also indicates that the indices are getting strong buyers at lower levels. That leaves the outlook positive for the Sensex, Nifty and Nifty Bank index for the coming week.

The US Federal Reserve’s interest rate googly may be a bit of a dampener for foreign portfolio flows into India in the near term.