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Indian Markets End Week Higher on Easing Rate Hike Fears
7 Sep
Summary
- Nifty gained 0.1% on Friday, closing at 23,898.
- India VIX, a market fear gauge, fell by 5.8%.
- Foreign investors sold Rs 3,112 crore, DIIs bought Rs 8,920 crore.
The Indian equity market finished the week on a positive note. On Friday, the Nifty index experienced a slight increase of 0.1%, settling at 23,898. This marginal rise was bolstered by favorable global market sentiment and diminishing expectations of an imminent interest rate hike by the US Federal Reserve.
The India VIX, a crucial barometer for market fear, recorded a notable decline of 5.8%, closing at 10.68. This suggests a reduction in investor anxiety. Despite the positive momentum, analysts caution that elevated Brent crude prices around US$95 per barrel and ongoing geopolitical tensions in West Asia present persistent risks to market recovery.
In terms of investor activity, foreign portfolio investors were net sellers, offloading shares worth Rs 3,112 crore on Friday. Conversely, domestic institutional investors showed strong buying interest, being net buyers to the tune of Rs 8,920 crore.
