'Once this entire AI and tech driven euphoria in the Western markets sees a correction there will be a re-evaluation of the Indian equity market and inflows will resume.'
Despite recent foreign portfolio outflows, India's long-term investment prospects remain strong, but the return of capital hinges on global financial conditions, relative valuations, and the country's ability to attract sustained foreign investment, according to foreign bankers at the Business Standard BFSI Insight Summit.
The Delhi High Court has overturned a Central Information Commission (CIC) order that mandated the disclosure of information regarding the Prime Minister's foreign visits on IAF aircraft under the RTI Act. The court cited national security concerns and the physical safety of the Prime Minister, stating that no sufficient larger public interest was demonstrated to override these risks. It also noted that the CIC erred in directing disclosure of Special Foreign Returns (SFR) - II.
Twenty individuals were arrested in Lonavala, Maharashtra, for operating an illegal call centre that defrauded foreign nationals. The accused impersonated representatives of companies like Amazon and Google, threatening victims with fake drug cases to extract banking details and money.
The Delhi High Court has ruled that foreign nationals do not possess an inherent or legally enforceable right to enter India, even if they hold a valid visa. The court emphasised that entry is a sovereign function, subject to national security, foreign policy, and administrative discretion. This observation came while dismissing a plea from a Turkmenistan national who was denied entry despite having a business visa, citing adverse inputs and national security concerns.
Foreign institutional investors have withdrawn nearly $40 billion from Indian equities in the last two years and, according to Bernstein analysts, have 'little reason' to invest for the long-term, though they may 'return to trade'. The brokerage highlights challenges such as struggling large-caps, disruption from new technologies, and difficulties accessing small- and mid-caps (SMIDs) at an institutional scale.
Indian benchmark indices, Sensex and Nifty, recorded their fourth consecutive day of losses, driven by relentless foreign institutional investor (FII) outflows, rising bond yields, and a significant surge in crude oil prices, impacting overall investor sentiment.
The Enforcement Directorate has seized Rs 3.45 crore in cash during searches against Karnataka PWD Minister Satish Jarkiholi, his family, and associates in a FEMA investigation. The probe concerns alleged undisclosed overseas investments, cross-border business links, and collection of bribes from PWD contractors, with the minister denying wrongdoing and alleging political targeting.
Indian benchmark indices, Sensex and Nifty, closed significantly higher, with the Sensex rallying 1,233 points and the Nifty climbing to 23,440.80. This surge was primarily fuelled by a sharp increase in Reliance Industries' share price following strong quarterly earnings and a notable decline in crude oil prices.
A Delhi court has extended the permission for US national Matthew Aaron VanDyke and six Ukrainian nationals to remain outside India until February 24 next year in a Myanmar arms training case. The NIA sought more time for investigation, while VanDyke, who appeared in person, questioned the case's continuation and cited financial difficulties.
Indian stock markets are set to be influenced by a confluence of factors this week, including escalating geopolitical tensions, particularly concerns over US-Iran conflict, volatile crude oil prices, and the ongoing quarterly earnings season. Additionally, the US midterm elections, foreign investor activity, and key macroeconomic data releases will also be closely monitored by investors.
Indian benchmark indices, Sensex and Nifty, saw significant gains in early trade, primarily driven by a strong performance from Reliance Industries following its record quarterly profit announcement and a notable decline in global crude oil prices. Positive foreign fund inflows and a buoyant trend in Asian markets further contributed to the market's optimism.Track Sensex, Nifty on November 2.
Indian benchmark equity indices, Sensex and Nifty, saw gains in early trade, primarily driven by strong buying in Reliance Industries and sustained foreign fund inflows. Adani Ports also emerged as a significant gainer after reporting an 18 per cent rise in consolidated net profit. Track Sensex, Nifty on October 29.
The Indian rupee has achieved its longest winning streak in nearly eight years, appreciating for eight consecutive sessions to close at a six-week high. This rally is attributed to strategic central bank interventions, healthy foreign capital inflows linked to the Jio Platforms IPO, and profit-taking in the US dollar.
Engagement with neighbours has gathered pace, particularly as the conflict in West Asia has exposed their vulnerability to energy supply disruptions.
An Army officer's wife has been booked in Jammu for alleged espionage, accused of using AI tools like ChatGPT and Claude to write analytical papers on sensitive national security issues for Chinese intelligence operatives. The well-qualified freelance researcher, who had an IT internship with the UN, is cooperating with investigators after being intercepted at Jammu Tawi railway station. The probe focuses on her alleged contacts with foreign nationals and the nature of the sensitive documents found on her mobile phone.
Foreign Secretary Vikram Misri held extensive discussions with China's Vice Foreign Minister Hua Chunying and other senior officials in Beijing, reviewing bilateral relations, trade, cultural exchanges, and emphasising peace and tranquillity in border areas. His visit aims to advance the vision of both nations as development partners.
Foreign Portfolio Investors (FPIs) have withdrawn Rs 48,056 crore from Indian equities in October, driven by elevated crude oil prices, Middle East tensions, inflation concerns, and weak corporate earnings, though selling pressure moderated towards the end of the month.
Chinese brands have ended partnerships with Kylian Mbappe after a video containing an apparent reference to Mao Zedong sparked a backlash.
The RBI can slow the rupee's fall, but lasting stability depends on tackling the root causes of depreciation and attracting foreign investment.
Delhi Police have arrested two men in Mathura for allegedly operating a cyber fraud scheme that used fake health camps to collect Aadhaar and biometric details from villagers. These details were then used to activate over 3,000 e-SIM cards, linked to frauds worth Rs 2.64 crore. The accused sold activated e-SIMs for profit, with payments made via cryptocurrency.
If India does get $100 billion a year in FDI, it would be a game-changer in every possible way. FPIs would come rushing back, AI or no AI, points out Debashis Basu.
India has issued an advisory to its nationals in Saudi Arabia, urging them to abide by local rules and regulations, particularly regarding filming or publishing information about missile and drone interceptions. This comes amidst escalating regional tensions and recent drone and missile attacks. The advisory also includes updates on flight suspensions by Air India and Air India Express to Riyadh, Dammam, and Jeddah, with some suspensions extending until 2026. Indian missions are providing assistance to affected nationals and liaising with Saudi authorities.
Delhi Police have arrested seven men for their alleged involvement in a Rs 3.93 crore cyber fraud that targeted a Delhi-based businessman. The investigation uncovered a sophisticated network involving mule accounts, cash withdrawals, a foreign money-exchange application, and a hawala channel used to convert illicit funds into cryptocurrency. Police recovered numerous banking instruments and mobile phones during fieldwork in Rajasthan, with further investigation ongoing.
A Bangladesh opposition leader, Nahid Islam of the National Citizen Party (NCP), has issued warnings against facilitating an Indian transit corridor through Bangladesh and called for a fair renewal of the Ganges water-sharing treaty, which expires in December. His remarks were made at a rally in Dhaka, where he also criticised the current government. The allegations about the corridor follow Prime Minister Tarique Rahman's recent visit to Japan, which focused on economic cooperation and regional connectivity, though Bangladesh officials deny discussing third-country issues. India has also expressed interest in strengthening regional linkages with Japan involving its northeastern states.
Indian equity benchmark indices Sensex and Nifty rallied for the second consecutive session, driven by strong buying in IT firms and a significant boost from Tata Group's retail arm Trent following its impressive September quarter earnings.
Indian stock markets are set to be influenced this week by a confluence of factors including quarterly corporate earnings, the US Federal Reserve's interest rate decision, fluctuations in crude oil prices, and ongoing geopolitical developments in West Asia.
Donald Trump criticised France's immigration policies, linking them to ongoing nationwide protests and using the situation to justify his own stance on US border control. His remarks come as France faces widespread demonstrations over the cost of living and educational funding, leading to nearly 1,000 arrests. French President Emmanuel Macron, without naming Trump, condemned foreign leaders for exploiting France's domestic unrest for their political campaigns.
India's private equity (PE) industry is transitioning from a 'spray and pray' approach to a more selective investment model, focusing on established businesses, greater strategic influence, and operational transformation to generate definitive returns, according to industry leaders Renuka Ramnath and Amit Chandra.
Indian equity benchmark indices extended losses for a second consecutive session, with the Sensex dropping 143 points, driven by a sell-off in power, banking, and financial stocks, coupled with elevated crude oil prices and persistent FII selling.
The Pakistan Cricket Board (PCB) has denied its over-50s team permission to participate in the International Masters Cricket World Cup in India next January, citing government refusal. This follows a similar decision by the Pakistan Hockey Federation, highlighting ongoing strained relations between the two nations.
US intelligence agencies have reportedly concluded that Alice Huang, a Chinese businesswoman with close ties to Nvidia CEO Jensen Huang, was a Chinese intelligence asset. She is accused of funnelling information to Beijing and helping China circumvent US AI chip restrictions. China has dismissed these allegations as a "smear". The findings raise concerns about potential access to sensitive information regarding US-China relations and Nvidia's technology.
Bangladesh has launched a diplomatic inquiry, seeking comprehensive details from Saudi Arabia regarding the recent execution of two Bangladeshi citizens in Makkah.
Former Bangladesh Prime Minister Sheikh Hasina has strongly criticised Prime Minister Tarique Rahman's decision to skip the BRICS summit in India, calling it "immature" and detrimental to Bangladesh's national interest. She argued that the absence lost opportunities for economic development and that foreign policy should not be driven by personal considerations. Hasina also highlighted the current "grave national crisis" in Bangladesh and her intention to return to restore democracy.
They had bought Rs 29,631 crore worth of shares in August.
The Delhi Police conducted 'shuddh prahar', a 10-day operation in northeast Delhi, leading to the arrest of 569 individuals for various criminal activities ahead of the festive season. The crackdown resulted in significant recoveries, including remote radio units worth Rs 4 crore, over 800 kg of firecrackers, and 221.5 kg of adulterated ghee, alongside arrests for murder, theft, drug peddling, and gambling.
Actor Imran Khan, a US citizen, has filed a petition in the Bombay High Court challenging a police notice directing him to leave India by October 28. The notice was issued after he was briefly detained near a political protest. Khan claims he did not participate in the protest and that the notice is arbitrary. The High Court will hear the plea on October 26.
Indian government bond yields have recorded their worst losing streak in three decades, rising for the tenth consecutive week, driven by elevated crude oil prices and increasing global yields. The rupee also weakened, and India's foreign exchange reserves saw a significant decline.
Israel has implemented new aviation security directives, barring pilots and cabin crew from countries without diplomatic ties, including Pakistan, from entering its airspace. This follows a hijacking attempt last month on a flight to Israel, where Indian Captain Smit Machchhar was injured while thwarting the plot. The restrictions affect over two dozen nationalities and have prompted airlines like Air France and United Airlines to adjust crew assignments.
The Rajasthan Police's Special Operations Group (SOG) has arrested two men for allegedly securing registration with the Rajasthan Medical Council (RMC) using forged educational qualifications. One accused, Pankaj Yadav, failed a foreign medical exam six times and allegedly used fake MBBS degrees, while Nanji Ram Choudhary, who only studied up to Class 8, allegedly used forged degrees to own and operate a hospital. The SOG is investigating potential involvement of RMC officials.
