At a time when foreign investors are bullish on India and have increased their stakes in many companies so far, domestic funds have been net sellers.
Its a clear signal of victory. The benchmark indices, the Sensex and the Nifty have managed to outperform the monkeys and the brokers in the last 11 months or so as they rose by 6.3 percent and 7.4 percent, respectively.
The Sensex, the baromter of the Indian economy, closed up 94 points to 17,278 while the Nifty closed above the 5,200 mark at 5,242.7.
Among sectoral indices, rate sensitives were the biggest losers with the autos falling by 1.3 percent followed by the realty index
Foreign investors have turned net buyers as they have purchased equity worth Rs 7,735 crore in July so far.
The benchmark indices aka the Sensex and the Nifty have once again managed to outperform the monkeys and the brokers as they fell at a slower pace of 1.7-1.8 percent for the week ended 13 July.
Among Sensex companies, only HDFC, HDFC Bank and Tata Consultancy Services have seen a rise in FII interest.
Will India's growth return to the 8-9 percent levels, in turn bringing back the lost vigour to the stock markets?
The sharp upward movement in the markets was mainly because of the rally in European stocks, which rose after Eurozone finance ministers approved a deal to rescue Spanish lenders.
Credit Suisse maintains an under perform rating on the stock with a price target of Rs 465 per share. The stock closed down one percent to Rs 715 per share.
he BSE Sensex, the barometer of the Indian economy, closed down marginally by 17 points to 17,521
Indian equities have risen 13.1 percent followed by the US (8.3 percent) and Poland (6 percent). Brazil, with a fall of 9.5 percent, was the worst performer.
Here's a list of stock recommendations by various analysts/ brokerage houses.
After opening on a positive note, the markets trimmed gains. The BSE Sensex closed at 17,425, up 26.7 points but down 101 points from the day's high.