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Foreign portfolio investors continued to be net buyers in the domestic market, investing Rs 1,942 crore on Tuesday. DIIs net bought shares worth Rs 405 crore.
The strong inflows more than made up for the $4.1 billion outflow in the first two months of 2023, eking out a $404 million net inflow for the calendar year so far.
The US inflation rate, which is expected to remain unchanged at its March level of 5 percent, is causing worries that the Fed will remain stricter for long.
The Nifty 50 index rose 195.40 points or 1.08 percent to 18,264.40.
Asian shares inched up as investors monitored U.S. inflation data which would be released during the week while the possible impact of a looming credit crunch weighed on the dollar. The report on the U.S. payrolls has already setback easing hopes.
Gold prices remained steady on Monday after a significant drop of more than 2% in the last session. This can be attributed to the cautious approach of investors ahead of the upcoming US inflation data due this week. The US consumer price index data is expected to be released on Wednesday. The fall in bullion prices after stronger-than-expected US payrolls data has lessened the possibility of interest rate cuts from the Federal Reserve. The World Gold Council has reported a decline in global gold demand in Q1 2023.
Like always, investors world over are looking forward to the meeting as Buffett and his good old friend Charlie Munger, who is the vice chairman of the world’s 6th most valuable company, will answer a plethora of questions from stakeholders.
The successful bidder has proposed to pay over ₹1,464 crore to acquire the company through an insolvency process, against the total admitted liabilities of ₹1,513 crore.