- MUMBAI — Foreign
Portfolio Investors (FPIs) turned net buyers of Indian stocks on Friday,
picking up shares worth INR 1,009.7 crore, according to latest provisional data
from the National Stock Exchange (NSE).
-
- This marked a positive turn as investor confidence continues
to grow. Domestic Institutional Investors (DIIs) also remained active buyers
for the 14th straight session, investing INR 9,342.5 crore in equities.
-
- One of the key highlights of the day was a major transaction
by Bajaj Holdings and Investment Limited, which sold shares worth INR 2,002.2
crore in Bajaj Finserv Limited through a block deal.
-
- This move involved selling 1.04 crore equity shares,
representing 0.65 per cent of Bajaj Finserv's paid-up capital.
Also read: India's forex kitty enough to fund over 11 months of imports: RBI chief
-
- Earlier in the day, the company’s promoters had also sold a
large number of shares in a pre-market transaction.
-
- Market activity also received a further boost after the
Reserve Bank of India’s Monetary Policy Committee cut the repo rate by 50 basis
points, bringing it down to 5.5 per cent.
-
- This move is expected to make borrowing cheaper and support
economic growth. Reflecting this positive sentiment, the benchmark indices
closed higher for the third straight day.
-
- The Nifty climbed 252 points, or 1.02 per cent, to end at
25,003. The Sensex also moved up by 746.95 points, or 0.92 per cent, to close
at 82,188.99.
-
- During the trading session, both indices touched higher
levels, with the Nifty reaching 25,092.50 and the Sensex hitting 82,299.89.
-
- Strong performances from companies like Eternal Limited and
Shriram Finance Limited helped drive this weekly rally.
