Bulls are on a rampage. Media reports that the government has relaxed the requirement of minimum 25% public shareholding for listed state-run firms send the key benchmark indices surging to 2-1/2-year highs. A further improvement in the southwest monsoon rains, sustained buying by foreign funds and firm global stocks, also underpinned sentiments. Eleven out of 13 sectoral indices on BSE closed in the green. The market breadth was strong as mid-cap and small-cap indices on BSE outperformed the Sensex. The barometer index BSE Sensex jumped 143.51 points or 0.79%, up close to 148 points from the day's low and off close to 22 points from the day's high.
NSE's volatility index, India VIX, a gauge of traders' perception of near-term risks in the market based on options prices, declined 2.13% at 17.
Foreign institutional investors (FIIs) continue to mop up Indian equities. As per provisional figures released by the stock exchanges, foreign funds today, 9 August 2010, bought shares worth Rs 522.12 crore. Domestic funds sold shares worth Rs 45.51 crore.
Foreign funds have bought equities worth a net Rs 3284.32 crore in the first six trading days this month, till 9 August 2010, absorbing selling of Rs 1175.12 crore from domestic funds, as per data from the stock exchanges.
Foreign funds bought shares worth a net Rs 8320.50 crore in July 2010, absorbing selling by domestic institutional investors. Domestic funds sold shares worth a net Rs 6323.13 crore in July 2010.
Foreign funds had pumped in Rs 7713.97 crore in equities in June 2010, absorbing selling by domestic funds in that month. Domestic funds had dumped shares worth a net Rs 4777.05 crore in June 2010.
The Government will announce industrial output data for the month of June 2010 on 12 August 2010.
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