Raamdeo agrawal on who’s protecting Nifty from falling down drastically

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Dalal Street’s top investor Raamdeo AgrawalCredit to today’s domestic investors for holding up stock marketForeign investors may not allow the granting of these rights, NiftyYou will rally more. He claimed that the market is in a tug of war between FIIs (or domestic investors), but that the outcome will be determined by the earnings growth.

“Domestics are not letting the markets go down drastically. It is not going up tremendously that the FIIs are allowing it to. It’s a Tug of war between FIIs and Domestics. The direction of the market will ultimately be decided by the earnings growth. I am optimistic about earnings growth,” Agrawal tweeted.

Domestic investors have been buying incessantly while foreign investors have been selling Indian equity for the 10th consecutive month of June. They have sold equities in excess of Rs 2.2 lakh crore during the current sell-off phase.

Motilal OSwal’s chairman and co-founder, Agrawal, previously stated that there was no reason for FIIs not to sell Indian stocks, except for the valuation gap. “Either they have to accept the premium of Indian markets or they may wait for valuations to go down. We will have to wait and watch,” he had said recently.

Nifty’s headline index, which was below 16,000 today, has lost almost 10% of its value so far in 2022. However, Indian headline indices (-) are different from the US market. SensexNifty and Pessimism – they did not slip into bear grip in June, when pessimism reached its peak.

Market experts credit domestic investors led by mutual funds for saving India from the global meltdown. According to mutual fund data, SIPs have shown a strong performance with an average of Rs 12,000 crore per month.



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