Sensex, Nifty scale fresh highs in early deals
emerging markets. Foreign portfolio investors (FPIs) net bought ₹32,468 crore worth of Indian shares during the current month till 18 July, and for 2023 so far, the purchases stand at ₹125,817 crore.
Vikas Jain, Senior Research Analyst at Reliance Securities said that the US macroeconomic data has suggested a softer inflation outlook while global markets have shown gains overall. In India, exports and imports of goods moderated while services also witnessed a contraction, suggesting weak external demand. Meanwhile, the earnings season will pick up pace in the coming days and consensus earnings estimates expect Nifty companies to register a 25% year-on-year growth, mainly led by an uptick in the performance of banks, autos while dharma sector is also to see a rebound.
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