FPIs invest Rs 7,136 crore in 2 days, Sensex jumps 595 points to gain for 2nd straight session

Vinod Nair, Head of Research at Geojit Financial Services, said, “the proposed huge EU stimulus plan provided a boost to European shares while Asian shares were affected by the US-China diplomatic issues. Indian markets are banking on continued resumption of economic activities, in spite of still high number of new infections. Further stimulus measures are also expected to boost demand in the economy and help the most impacted sectors to recover. The market is rising on the back of expectations while there has been little change on the ground realities.”

Ahead of derivative expiry, traders were seen covering short positions in technology, banking and auto stocks, pushing up the market for the second consecutive day. “High-net worth-investors were seen bargain hunting in select beaten-down stocks. At the end of the trading session, we believe most long-positions were rolled over by traders to June 2020 contracts,” said Rahul Sharma, Research Head, Equity99 Advisors.