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Stock Market Live Updates: IT giants’ earnings & FPI surge set tone for Indian market’s 2024 trajectory
Sensex, Nifty, Share Prices LIVE: This week’s Indian stock market movement hinges on impending earnings reports from IT giants TCS and Infosys, with global trends and Q3 corporate performance closely watched. Concurrently, Foreign Portfolio Investors (FPIs) displayed strong interest, injecting ₹8,772 crore ($1 billion+) in 2024’s first week, following a record inflow in December 2023. This robust start fuels speculation that 2024 could surpass 2023 in FPI inflows. CLSA notes suggest a positive outlook for emerging markets, foreseeing a potential influx into India amid concerns about market valuations. Although India remains a favorued FPI destination, FPI ownership in Indian markets remains relatively low. Anticipating the inclusion of Indian sovereign debt in global bond indices, focus might shift to debt markets, potentially altering investment preferences among Indian households. FPIs are preparing for India’s bond inclusion, reflecting increased interest in debt, setting the stage for potential growth in this segment in 2024.