The Wrap🌯10 Dec 2023 | Institutional Inflows
Your weekly digest of everything important in Indian Stock Market
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Mutual Fund AUM crosses 50 Lakh crores, FII inflows cross ~USD 1.3 Billion in first 8 days of Dec, Advance of the bull market continues
This week another milestone was achieved in Indian equity market, the total AUM with all mutual funds now stands at 50 lakh crores.
Domestic investors especially retail investors have truly embraced equity investing.
FIIs also seem to be back with first week inflows of this month now crossing USD 1.3 Billion (~10,000cr).
Money is chasing stocks.
At this point, I would like to draw your attention towards the market breadth chart. The percentage of stocks currently trading above their 40 week exponential moving average is near its all time high.
In my experience, profit booking usually takes place around these zones and given the extended market breadth, I would not be surprised if we see a pause, consolidation or even (dare I say it) a small correction here.
Energy was the best performing sector this week with the index returning 5.6%, followed by the continued performance of public sector enterprises.
Barring FMCG and Pharma, everything else ended in the green.
A bunch of macro events take place next week with the most important being the Fed meet and interest rate decision. It is expected the Fed will keep interest rates as is, market will however be closely watching for any indication of rate cuts or dovish tones.
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