Indian stock indices increased this morning and reached new lifetime highs . Apollo Hospitals, Hindustan Unilever, Dr Reddys, Hindalco, and Tata Steel were top gainers .
New Delhi (India), November 29: Indian stock indices increased this morning and reached new lifetime highs as a result of strong foreign funds flows, the relative strength of the Rupee, and a hints by the US Fed that policy rates would be slowing.According to NSDL results, foreign funds have purchased over Rs 31,000 crore worth of equities in India so far in November, with Apollo Hospitals, Hindustan Unilever, Dr Reddys, Hindalco, and Tata Steel being the top gainers, while Bajaj Finserv, BPCL, L&T, and Maruti Suzuki being the top losers.The global economy structure isn't exactly conducive to a successful rally.The high valuation in India is also becoming a point of worry, said V K Vijayakumar, Chief Invest Strategist for Geojit Financial Services.Banking stocks can be maintained at healthy levels even as market valuation rises.
Markets in India could do well with some intermittent corrections until the forthcoming Union Budget.