Sensex and Nifty hit new all-time highs as foreign investors continued to invest in Indian equities over the past one month. Stock market experts warn that small investors will now have to watch every step.
Foreign portfolio investors (FPIs) bought shares worth Rs 22,546 crore in Indian stock markets in November. On the other hand, domestic institutional investors (DIIs) have pulled out investments worth Rs 6,300 crore. Yesterday (Nov 30) alone, foreign investors bought shares worth Rs 9,010 crore. TIIs sold shares worth Rs 4,056 crore.
GDP, growth is low
2022 will be Nifty’s seventh straight bullish year, barring a major market downturn this December. In this case, the GDP details for the second quarter were released recently. They showed that India’s economic growth slowed to 6.3%. However, this information did not affect the markets. But stock market analysts see it as a warning sign.
Nifty at 15,000 again?
Rahul Arora, CEO, Nirmalbank Institutional Equities, said, “The current size of the market is not fair. A great fall is coming. The market may slow down from this high. It would not be surprising if Nifty falls to 15,000 in the first half of 2023. A slowdown in global GDP growth will lead to lower incomes in most major global economies, including India. We cannot justify the current market value in such an environment. Domestic fund companies are already on alert. Small and mid-cap stocks are currently overpriced. At the same time, they will be responsible for the market’s next move after the expected decline.” Said thus.
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