business π Foreign buying can't break August market deadlock
Indian equities are set to stay in a narrow range despite foreign investors putting in over βΉ30,000 crore this month. The Sensex closed at 77,264.51 and the Nifty 50 at 24,175.65, with tech gains helping snap a losing streak on Friday. This stalemate is caused by domestic profit booking offsetting the foreign inflows and heavy primary market supply. Investors are now waiting for the crucial June-quarter GDP data, which is due on August 31. Strong GDP growth above 7.5% could signal a market breakout.