Market is gaining strength on the back of buying in selected contra sectors which have not participated in the rally such as Realty, FMCG, Telecom etc and the same time FIIs are pouring huge funds in Indian market. From last 4 months including September Foreign Institutional Investors (FIIs) have been net buyers in Equities.
Gross Purchase Gross Sales Net Purchase/Sales
September (till 23rd) 58,609.50 37,710.20 20,899.30
Looking at the above FIIs data and advance tax numbers it is advisable to invest only in frontline stocks and some midcap with a minimum time period of 6 to 8 months as anytime a major selling can’t be ruled out.