Equities post weekly gain of 1% on FII buying

Oct 05 2013, 15:36 IST
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The rebound in Indian equities was largely aided by the renewed buying from foreign institutional investors (FIIs) and stability in the Indian rupee. (Reuters) The rebound in Indian equities was largely aided by the renewed buying from foreign institutional investors (FIIs) and stability in the Indian rupee. (Reuters)
SummaryOverseas funds bought $117.55 mn in equities, compared with $108.26 mn in previous week.

strong, with 21 out of 30 Sensex companies ending the week on a positive note.

In global markets, major Asian indices ended the week on a flat-to-negative note, with Nikkei 225 (-5%), Shanghai Composite (-2.1%) and FTSE Straits Times (-2.25%) emerging as the major losers. Major European and US indices were trading down 1-2% for the week at the time of going to print.

Experts said global cues will impact the markets in the near term, adding that developments surrounding the on-going US government shutdown could swing markets. The rupeeís movement is another key factor and will impact the direction of Indian equities in the next couple of weeks. The Nifty is broadly seen trading in the 5,950-5,700 range, they added.

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