Outlook Of Nifty/bank nifty today
Equity benchmarks had a trend reversal during the day and ended on a negative note. The Sensex had gained over 250 points, but has ended in the red. The Sensex was down 94.56 points at 29319.10, while the Nifty was down 34.15 points at 9105.15. The market breadth was negative as 1,111 shares advanced against a decline of 1,778 shares, while 142 shares were unchanged. Tata Steel, Coal India, Bharti Infratel and Tata Steel were top losers, while NTPC, Wipro, Aurobindo Pharma and IOC gained the most.
Bank Nifty Outlook:
Foreign direct investment (FDI) by Indian companies in their overseas ventures jumped over two- fold to USD 2.99 billion last month. Indian firms had made investments of USD 1.42 billion in their overseas joint-ventures/subsidiaries in March 2016. Investments in March this year were much higher than the preceding month, February, at USD 867.53 million, the Reserve Bank data showed. Their investment came in the form of equities USD 1.99 billion, loans of USD 742.60 million and issuance of guarantee worth USD 251.40 million.