The country's m-cap is now 4.3x India's, whose m-cap grew just 17 per cent to $2.5 trillion in CY20 -- 2.4 per cent of the global m-cap.. Ashley Coutinho reports.
More people seemed to be returning to their workplaces towards the end of the year, even as railway and electricity numbers disappointed. Most other indicators held on to their gains.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
While there were Rs 7.01 trillion worth of new assets in December 2019, this fell 88.6 per cent to Rs 80,000 crore for the three months ending December 2020, shows data from project tracker Centre for Monitoring Indian Economy (CMIE), reports Sachin P Mampatta.
The unlocking of the economy since June led to a significant recovery in various macro, micro and high-frequency data points, resulting in the equity markets surpassing their previous lifetime highs.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
The new entrants comprise Asian Paints, Britannia, Titan, Nestl, Bajaj Finance and Bajaj Finserv.
Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
The new PN3 norms and lack of clarity on what constitutes beneficial ownership are the primary reasons for the decline in investments from China and Hong Kong.
'Valuations were depressed at 8,000 (Nifty 50 index) levels. It was a free ride to 12,000 levels.' 'What went down had to come up. Now fundamentals have to support further gains.'
Assets under management of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion.
The year-to-date returns are 13.33 per cent for Indian funds, compared to 11.66 per cent for emerging market funds overall.
Fund managers may end up losing out on crucial information during market hours, leading to information asymmetry vis-a-vis other institutional investors such as alternative investment funds, insurance players, or foreign portfolio investors.
Reliance Industries accounted for Rs 6.3 trillion in wealth created since 1995; closest rival was Hindustan Unilever which was at Rs 4.9 trillion.
While the amount collected is a tad lower than last two years, it may surpass the previous two years' collections by the end of the year.
Business Standard tracks pollution levels, goods ferried by the Indian Railways and consumer visits to various categories of places, in addition to power generation and traffic numbers to understand the fast-changing situation on the ground.
In the past few years, MFs have emerged as significant institutional buyers, often offsetting the selling by FPIs.
So far, brokers only reported margins at the end of the day, which is why they were able to give additional leverage even if the client didn't have minimum margins.
UBS, Credit Suisse see emerging markets doing well next year, but expect India to underperform, given its rich valuations.
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