Mkt celebrating liquidity, hope of Modi as next PM: Udayan Foreign institutional investors have bought more than Rs 4,400 crore

The stellar rally seen in the Indian equity market is all thanks to the fact that the US Fed didn’t taper its bond buying program (Quantitative Easing 3) due to which the liquidity taps continue to flow, says Udayan Mukherjee. Foreign institutional investors have bought more than Rs 4,400 crore worth of equity shares in cash market this week, including Rs 1,753 crore provisional figure of Friday’s session. In October so far, they are the net buyers with more than Rs 9,000 crore of shares. The Sensex closed at 3-year high of 20882.89. The index is now 324 points away from its all-time high of 21206.77 seen on January 2008. The market is also cheering the likelihood of Narendra Modi becoming the next Prime Minister, adds Mukherjee. Source: Money Control

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