Editor’s Take | Sonia Shenoy Shares Her View On The Market
Nifty on Mission 20,000!
– Nifty is less than 200 points away from 52 week highs
– Nifty gained for the sixth-straight session, ending at a two-month high
– Domestic institutional investors (DIIs) bought Rs 1,150 crore in cash, while foreign institutional investors sold Rs 224 crore in cash markets
– FII selling has reduced over the last three trading sessions
FII selling
September 6: – Rs 3245 crore
September 7: – Rs 758 crore
September 8: Rs – 224 crore
Global data watch
Tuesday: Apple product event, expected to launch iPhone 15
Wednesday: US CPI data
Thursday: US retail sales, US PPI data
Friday: University of Michigan consumer sentiment survey
Indian macro data watch
August CPI, July IIP: September 12
August WPI: September 14
Headwind: Brent crude hits 9 month high, crosses 90$/bbl on worries about tight supply
This week, OPEC member Saudi Arabia and Russia extended their voluntary supply cuts of a combined 1.3 million barrels per day to the end of the year.