By Admin 
Share Market News: On the second day of the week, Tuesday, October 21, during the Muhurta trading session, foreign investors (FIIs/FPIs) bought Indian shares worth Rs 96 crore. At the same time, domestic institutional investors (DIIs) sold shares worth Rs 1527 crore by the end of the trading session.
Domestic investors sold shares worth so many crores
Domestic investors bought shares worth Rs 324 crore and sold shares worth Rs 931 crore. In contrast, foreign investors bought shares worth Rs 622 crore, but sold shares worth a total of Rs 526 crore. So far this year, foreign investors have sold shares worth Rs 2.40 lakh crore, while domestic investors have bought shares worth Rs 6.02 lakh crore. Vineet Bolinjkar, head of research at Ventura, says, “This year’s Muhurta trading session reflected cautious optimism in the face of a subdued outlook for 2024.
Sensex rose to 84,600 and Nifty remained around 25,900, with most of the sectoral indices remaining in the green. Among these, IT, banking, auto and pharma shares were at the forefront. Muhurta trading of 2024 saw slow growth after a volatile period. Mid-cap and small-cap stocks performed weak due to global uncertainties. Nifty 50 is now improving and its position is likely to become stronger in Samvat 2082.
Possibilities of further improvement in Nifty
The Nifty index is currently trading at a Forward P/E of 18x to 2026, which is slightly higher than its average of 17x. This shows that the possibility of further decline is limited and it is expected that Nifty will improve from the current level. Key drivers of this potential upside include improvement in domestic consumption-driven income from Q3FY26, a potential US-India trade agreement and fiscal and monetary support including interest rate cuts and increase in government capital expenditure.
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