Analysts expect FPI selling to reverse; see a market rally on Monday

The rollback of surcharge proposed in the Budget on foreign portfolio investors and measures to prop-up the economy, especially the auto sector have been welcomed by experts, who now expect the markets to react positively to the development on Monday.

In a post-market hours press briefing today evening, Finance Minister Nirmala Sitharaman withdrew the enhanced surcharge on long and short-term capital gains. That apart, public sector banks will be infused with Rs 70,000 crore capital. Read more here

Analysts have given a thumbs-up to the measures announced and expect the selling by foreign FPIs to halt.