The surge in the market price is also attributed to demand by retail and high-networth individual investors ahead of the IPO.
Shares of Tata Consultancy Services (TCS) declined after the information technology (IT) major reported a 1.3 per cent sequential drop in net profit for the March quarter, prompting several brokerages to cut their target prices. The TCS stock fell as much as 1.26 per cent during the day to Rs 3,205 per share.
Investors should tilt their portfolios towards domestic-facing defensive sectors, which should help provide stability and shield them from geopolitical and tariff risks.
Global funds have pulled out Rs 1.54 trillion from domestic stocks in fiscal 2024 - 25 (FY25), the highest-ever outflow recorded so far, according to the data compiled by Business Standard. The last time the global funds exited Indian shores in droves was back in 2022, when they sold a net Rs 1.41 in the backdrop of Covid-19.
Retail investors have been the hardest hit in the recent market downturn, with stocks where they hold over 20% falling 45% from their 52-week highs.
Global fund managers witnessed one of their largest-ever declines in assets under custody (AUC) during the ongoing correction in the Indian markets, as stocks came under pressure from foreign outflows and the weakening rupee.
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