Foreign investors have injected close to Rs 33,700 crore in domestic equities in this month so far primarily due to interest rate cut in the US and resilience of the Indian market. This also marks the second highest inflow in a month in this year so far, the last one being in March, when Foreign Portfolio Investors (FPIs) infused Rs 35,100 crore, data with the depositories showed. Going ahead, the trend of FPIs buying is likely to continue in the coming days, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Tasting success with the relaunch of Sensex derivatives in the onshore market, BSE is preparing for the 'offshore' debut of its 30-share index, which has become synonymous with the domestic markets. Sources in the know said that the India International Exchange (India INX), a subsidiary of BSE, received approval in July from the International Financial Services Centres Authority (IFSCA) to launch Sensex 30 derivatives contracts.
Foreign investors have adopted a cautious stance and infused Rs 7,320 crore in the Indian equities in August owing to high valuation of stocks and the unwinding of the Yen carry trade after Bank of Japan raised interest rates. This investment was way lower than Rs 32,365 crore in July and Rs 26,565 crore in June, according to data with the depositories. While September is likely to see continued interest from FPIs, the flows would be shaped by a combination of domestic political stability, economic indicators, global interest rate movements, market valuations, sectoral preferences, and the attractiveness of the debt market, Vipul Bhowar, Director Listed Investments, Waterfield Advisors, said.
The star-studded TPL auction saw the presence of the tennis icons Leander Paes, Mahesh Bhupathi and Sania Mirza, who gathered together after many years to promote the sport, along with Bollywood celebs Rakul Preet Singh and Sonali Bendre.
Sagar said they are hoping that India's wicketkeeper batter will soon make a return and play in IPL 2024
Rishabh Pant will miss Sunday's crucial match against RCB after he was handed a one-match suspension for maintaining a slow over-rate.
The Indian Premier League governing council revealed changes ahead of the IPL mega auction, which is likely to be scheduled for November.
'If tech giants like Amazon, Google, Apple and Meta enter the IPL broadcasting arena, it could further revolutionize sports media in India.'
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
Shami recently underwent a successful Achilles heel surgery in London for his right heel problem.
The swindled amount is nearly half of WazirX's total assets.
The expectations of a borrowing cut by the government faded among bond-market participants after the general election results because they feel the compulsions of running a coalition may put pressure on the exchequer, according to dealers. The recent trend of moderate depreciation in the rupee's nominal effective exchange rate (NEER) might not persist if there are significant changes to the structural reform agenda.
Unwilling to jeopardise its cordial relationship with the all-powerful BCCI, the England and Wales Cricket Board (ECB) has rejected a lucrative 10-year buy-out offer of their franchise-based property 'The Hundred' from former IPL commissioner Lalit Modi, the Daily Telegraph reported.
The second edition of the TATA Women's Premier League Player Auction list is out with a total of 165 cricketers set to go under the gavel on December 9th in Mumbai.
Calling all cricket lovers to take a crack at our latest IPL quiz.
West Indies pace sensation Shamar Joseph, who single-handedly won a Test against Australia last month, was on Saturday roped in by Lucknow Super Giants (LSG) for the upcoming IPL season as replacement for England's Mark Wood.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
India pacer Prasidh has been laid low by a lumbar stress fracture that will require the Rajasthan Royals bowling spearhead to go under the knife.
The roster for the Indian Premier League (IPL) 2024 Player Auction has been unveiled, featuring 333 cricketers scheduled to go under the gavel in Dubai at the Coca-Cola Arena on December 19th.
Chief Economic Advisor (CEA) V Anantha Nageswaran on Tuesday said India is not defending the rupee and the Reserve Bank of India is taking necessary steps to ensure that the movement of the rupee is gradual and in line with market trends. Nageswaran further said that the rupee is being managed in a manner that reflects the fundamentals of the economy. "India is not defending the rupee... I don't think Indian fundamentals are such that we need to defend the rupee. "The rupee can take care of itself," he said at an event in New Delhi.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
Tech giant Apple on Tuesday unveiled its much-awaited iPhone 15 and iPhone 15 Plus with USB-C type charging at its "Wonderlust" event.
'It is difficult to put a number right now as the value of dollar to rupee has also changed from the exchange rate last time. But don't be surprised if digital rights earns way more than TV.'
The Turkish city of Istanbul, Bengaluru, New Delhi, Mumbai and Hyderabad were also in contention to host the auction but, the BCCI eventually opted for the coastal Kerala city.
Stock markets are likely to remain range-bound in this holiday-shortened week amid a lack of any major domestic triggers, analysts said. Stock indices may also face volatility during the week amid the monthly derivatives expiry on Thursday. Equity markets would remain closed on Monday for Christmas.
Cummins, who skipped the IPL last season, was also the most expensive buy in the 2020 IPL Auction.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
India's foreign exchange reserves increased to $604 billion as on December 1, surpassing the $600 billion mark after a gap of about four months. The forex reserves were last above the $600 billion mark on August 11 this year. "India's foreign exchange reserves stood at $604 billion as on December 1, 2023.
The IPL 2024 auction, set to take place in Dubai at the Coca-Cola Arena on Tuesday, marks a historic moment as it becomes the first instance of an IPL auction being conducted overseas.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
Alternative Investment Funds (AIFs) with a lock-in period performed better than the ones that allow investors to withdraw capital at any time. Close-ended schemes had a median return of 5.62 per cent in December, according to data from industry tracker PMSBazaar. The median returns for open-ended schemes were 3.91 per cent
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Neeraj Chopra's preparatory camp in Switzerland gets ministry approval
rediffGURU Samkit Maniar answers readers' personal income tax queries
The stage is set for the inaugural edition of the Women's Premier League, which will get underway in Mumbai on Saturday.
Ahead of their final league game of the season, Lucknow Super Giants named Suryansh Shedge as Jaydev Unadkat's replacement.
Jamieson, who was ruled out of the tournament due to an injury, was bought by CSK for Rs 1 crore.
Reserve Bank of India on Thursday said a centralised portal would be ready in three to four months wherein depositors and beneficiaries can access details of unclaimed deposits across various banks. As of February this year, about Rs 35,000 crore of unclaimed deposits were transferred to RBI by public sector banks in respect of deposits which were not operated for 10 years or more. "In order to improve and widen the access of depositors/beneficiaries to such data, RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs," RBI Governor Shaktikanta Das said while announcing the first bi-monthly monetary policy for the current financial year.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
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