When the dollar index moves up and is expected to trend up, FPI sell. Conversely, when the dollar index declines and is expected to trend down, they buy. Going forward, India will get its fair share of FPI money. But the high valuation in India will be a deterrent.
Dalal Street showed rising enthusiasm for nearly all trading days of the last two weeks with both BSE Sensex and NSE Nifty touching fresh all-time highs and correcting their respective 52-week highs multiple times. At last close, BSE Sensex ended at 62,868.50 with its 52-week high being 63,583.07 and NSE Nifty ended at 18,696.10 with its 52-week high being 18,887.60.
Given the current volatility in the markets and domestic indices falling for five straight sessions, these three stocks managed to settle on a higher note in the previous session (Tuesday).