Market Eye Week Ahead: BSE Sensex boosted by FIIs

Written by Reuters | Updated: Dec 28 2013, 01:00am hrs
Indian shares are expected to remain firm as Wall Street hits record highs while foreign investors look set to end the year as strong net buyers.

What does you dream car cost Check price

Foreign institutional investors (FIIs) have bought around $2.5 billion in shares as of Thursday in December, bringing their net purchases for the year so far to around $19.9 billion.

The gains could allow indexes to post a second consecutive yearly advance, with the NSE index up 6.9 percent so far this year, compared with a 27.7 percent gain in 2012. Investors will also be paying close attention to Apollo Tyres Ltd, whose $2.5 billion agreement to buy Cooper Tire & Rubber Co is due to expire on Dec. 31.

Traders are also awaiting the release of a RBI report due by the end of the month that is expected to unveil a major change in the monetary policy to explicitly make managing consumer inflation, rather than wholesale prices, its main objective.

Investors will also start shifting their focus towards October-December earnings results starting in January.