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New Delhi, Feb 15 The Indian stock markets are on fire, mirroring the global markets which rose for the 11th consecutive day as foreign portfolio investors (FPI) inflows in February have exceeded that of January.S. Ranganathan, Head of Research at LKP Securities said that bulls powered indices to new highs as FPI flows till date in February far exceeded January flows.He added that buoyed by Q3 earnings and CPI inflation, the day witnessed a ferocious rally in financials backed by positive global cues and return of the elusive capex cycle."FPIs have invested more than Rs 39,000 crore till date during calendar year 2021 into Indian Equities. Sectors like private banks, consumer, FMCG and IT have seen foreign flows as Indian companies have exhibited resilience and demonstrated growth post lifting of the lockdown restrictions in Q3."V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said that FIIs now see India as having the fastest post-Covid recovery among emerging markets. The sharp and steady decline in Covid infections in India is a clear positive from FIIs' perspective and therefore, future flows also are likely to be good."There is sectoral rotation happening in the market now. In 2020, the pharma sector was a preferred choice and the sector did very well while the banking stocks underperformed due to potential NPA concerns. Now the banking stocks are again sought after by the FIIs," he added.Deepak Jasani, Head of Retail Research, HDFC Securities, said that global shares rose for the 11th consecutive day to hit a fresh peak on optimism about the rollout of Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking said that after a brief pause last week, Indian markets resumed their upward momentum on the back of global optimism and encouraging macro numbers."Now, although the overall trend has been strongly bullish and markets are not willing to correct at all, it would be very difficult to give bigger upside levels from hereon. We can observe a cluster of resistance in the zone of 15380 - 15500, which is the 161 per cent 'Golden Ratio' of the entire fall from Jan'20 highs to March'20 lows. Hence, we advise momentum traders to keep booking profits in the ongoing rally and stay light on positions," Chavan said.Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said Indian markets opened gap up and continued its positive momentum throughout the session to close at yet new all-time high.Nifty rallied 151 points to end at 15,315 while Sensex surged 610 points higher to cross 52 K mark and close at 52,154.The markets rally also powered the rupee to a one year high. Rahul Gupta, Head Of Research-Currency, Emkay Global Financial Services, said that across the globe, equities are charged on 'risk-on' tone as countries and regions are rolling out vaccines and easing lockdown restrictions. This optimism has pushed Indian rupee to surge to 72.57, highest level since March 3, 2020. The trading range has shifted to 72.00-73 and the RBI seems to be comfortable with the rupee appreciating below the 73 level.( With inputs from IANS )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :FIIs bet on India for fastest post-Covid recovery

New Delhi, Feb 15 The Indian stock markets are on fire, mirroring the global markets which rose for ... ...