India saw the first down week after 9 continuous up-weeks, from the lows of 4667 on the Nifty. But regardless of this week’s 100 point fall (2%), FIIs continue to buy; they have had net buys in the market since Feb 26, or for 32 continuous days! This is the longest continuous stretch of FII buying since 2004, from when the data has been provided.
Nifty’s P/E still is at 22.78, despite the recent fall. The EPS has fallen to 231 from a high of 235 recently, and I can’t find much reason for the 2% drop; Infy’s results marginally impacted it, but the market cap changes and weightages would impact it more. Still, here’s the chart:
The video has more. Thanks for watching!
(I’ve attempted a music intro – that’s Strunz and Farah – and slightly better edited audio. Please let me know what you think)