FIIs Infuse Rs 14,064 Crore In Indian Equity Market This Week, Buying To Continue

The second session previously saw Shubman Gill and Rishabh Pant slam their respective centuries as India declared at 278/4. 

With the pitch being good for batting, Zakir got going by taking two boundaries off Jasprit Bumrah in the opening over. Shadman brought out a square punch on backfoot to hit a four off Mohammed Siraj before Zakir smacked him for a six and two fours – a pull over square leg was followed by a straight drive and cover drive.

After Shadman cut Akash Deep for a boundary, Zakir danced down the pitch to hit Ravichandran Ashwin for a boundary over long-on, before tea break was taken. Before this, Gill, after bagging a duck in the first innings, led India’s charge with a fine 119 not out, laced with ten fours and four sixes.

Pant, playing in his comeback Test match after 637 days, made a superb 109 – where he took his time before unleashing his attacking shots in his knock laced with 13 fours and four sixes. With his sixth Test century, Pant now has equalled MS Dhoni for the joint-most centuries hit by an Indian wicketkeeper-batter in the longer format.

The duo shared an enterprising 167-run stand for the fourth wicket to demoralise the Bangladeshi bowlers. Pant began the second session by slamming Shakib Al Hasan down the ground for six and swept him for four more. He then cut Mehidy Hasan Miraz for four more before getting his hundred in 124 balls with a brace driven wide of long-off.

After hitting two quick boundaries, Pant fell in a bid to attack more as he hit straight back to Mehidy in a caught and bowled dismissal, with his walk back to the pavilion marked by a rousing standing ovation from 13,501 fans in attendance.

Gill made use of Shakib’s poor lengths to get consecutive fours, before getting his third Test hundred in his last five matches in the format in 161 balls. KL Rahul also played four free-flowing boundaries to be 21 not out, before Rohit Sharma came out of the dressing room and called the batters in to declare India’s second innings.

Brief scores: India 376 and 287/4 dec in 64 overs (Shubman Gill 119 not out, Rishabh Pant 109; Mehidy Hasan Miraz 2-103) lead Bangladesh 149 and 56/0 (Zakir Hasan 32 not out, Shadman Islam 21 not out) by 459 runs.

(IANS)

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Gill, after bagging a duck in the first innings, led India’s charge with a fine 119 not out, laced with ten fours and four sixes. Pant, playing in his comeback Test match, made a superb 109 – where he took his time before unleashing his attacking shots in his knock laced with 13 fours and four sixes.

The duo shared an enterprising 167-run stand for the fourth wicket to demoralise the Bangladeshi bowlers. The main interest in the second session was always going to be about when India would declare its innings.

Pant got to his hundred first – slamming Shakib Al Hasan down the ground for six and swept him for four more. He then cut Mehidy Hasan Miraz for four more before getting his hundred in 124 balls with a brace driven wide of long-off.

With his sixth Test century, Pant now has equalled MS Dhoni for the joint-most centuries hit by an Indian wicketkeeper-batter in the longer format. After hitting two quick boundaries, Pant fell in a bid to attack more as he hit straight back to Mehidy in a caught and bowled dismissal.

Gill made use of Shakib’s poor lengths to get consecutive fours, before getting his third Test hundred in his last five Tests via 161 balls. KL Rahul also played four free-flowing boundaries to be 21 not out, before Rohit Sharma came out of dressing room and called the batters in to declare India’s second innings.

Previously, the first session on day three turned out to be another brilliant session for India as Gill and Pant took a demoralised Bangladesh bowling line-up to cleaners by making 128 runs in 24 overs on a cloudy day at Chepauk.

Both Gill and Pant have looked untroubled, as they took their time and then unleashed their shots to pile more misery on Bangladesh – barring a dropped chance of the latter on 72 by Najmul Hossain Shanto off Shakib just before lunch.

In the morning, with lack of lateral movement on offer for Bangladesh, Pant played two controlled pulls for boundaries, before Gill danced down the pitch to thump Mehidy for back-to-back sixes and get his Test fifty in style.

Pant and Gill were consciously looking to play for a long time, leading to a little drop in the scoring rate. But Pant broke a 46-ball boundary drought by dancing down the pitch off Mehidy Hasan to smack a four straight down the ground.

Pant continued to waltz down the pitch off Mehidy – this time dispatching him for a one-handed six before reaching his fifty. There was no respite for Bangladesh as Gill continued to dazzle with his down the ground and pull shots, while Pant was terrific in his loft, reverse-sweep, backfoot punch, and heave shots to dispatch bowlers all over the park.

After being dropped on 72 by Shanto off an off-colour Shakib, Pant brought out the sweep and down the ground shot over long-off to take a brace of fours and push the match totally out of Bangladesh’s reach.

Brief Scores: India 376 and 287/4 dec in 64 overs (Shubman Gill 119 not out, Rishabh Pant 109; Mehidy Hasan Miraz 2-103) lead Bangladesh 149 by 514 runs

--IANS

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Total FII investment till September 20 stood at Rs 33,699 crore, taking the total FII investment in the country to Rs 76,585 crore this year to date, as per NSDL data.

Market watchers said that the trend of FII buying is likely to continue in the coming days.

Manoj Purohit from BDO India said the US Federal Reserve made the first interest rate cut in the last four years, by a larger than anticipated margin of 50 bps and the foreign portfolio investors (FPI) fraternity has been conscious about this move and reacted passively.

“The Indian markets reflected their resilience on a positive note basis the strong fundamentals and robust economy performance at the expected GDP growth,” said Purohit.

September witnessed the second highest inflows in 2024 so far, the last one being in March.

The flood of FII money has appreciated the rupee by 0.4 per cent for the week ended September 20. This can boost further FII buying, sayd analysts.

Despite global uncertainties, the primary factors, to make emerging markets like India a sweet spot, are balanced fiscal deficits, rate cut impacts on the Indian currency, strong valuations, and RBI’s approach to keep inflation under control without a rate cut.

To add, the IPOs announced this year attracted a large chunk of foreign funds making the Indian capital market buoyant and a lucrative place to shift their positions from other riskier countries, said analysts.

All eyes on the RBI now whether it follows the suit by making a cut in the repo rate in October or wait till December.

There is a strong case to marginally cut rates to manage food inflation, diluted interest from household savings which impact the retail lending business of banks.

India’s monetary policy has been more conservative despite the Fed's action so far, said Purohit.

(IANS)

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