They own 27.5% in top 75 listed firms; investments bounce back after falling two straight quarters
Of the total Rs 63,288 crore invested through the route till July, Rs 52,356 crore was invested in equities, Rs 10,429 crore in debt, Rs 250 crore in the hybrid securities and Rs 190 crore in derivatives segment.
In the centre of an ownership battle with Adani Group, New Delhi Television (NDTV) can prevent a takeover by the group if it can buy more shares from public shareholders, corporate lawyers told Business Standard. On Tuesday, the media arm of Adani Group said it had exercised rights to acquire an indirect stake of 29.18 per cent in NDTV through conversion of loans into equity in a promoter group entity of NDTV. This will trigger a mandatory open offer for an additional 26 per cent stake in NDTV, even as the broadcaster said its founder promoters had neither consented to the exercise of rights nor was any conversation or input given on the matter.
Forex dealers attributed the fall to increased demand for the dollar.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
Rupee hits 2-month low against dollar on US rate hike fears.
The NSE Nifty settled at 10,234.65, down 225.45 points, or 2.16 per cent.
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
'The correction could take two to three months and traders need to be careful.' 'For investors, this could be a good time to nibble in.'
On Monday, the rupee had lost 14 paise to close at 66.62 against the US dollar.
The risk-reward ratio could turn adverse for foreign investors if corporate earnings disappoint by wide margins, or if crude oil prices spike in the international market, putting pressure on the rupee-dollar exchange rate.
Rupee closed at 61.86 against the dollar on Tuesday.
With most Adani Group shares locked in lower-circuit in early morning trade based on news that accounts of three foreign portfolio investors, heavily invested into group companies, were frozen by the National Security Depository Limited, market experts advise caution that investors should not jump in now to buy at lower levels.
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
Covering-up of short positions by speculators ahead of September month expiry in the derivatives segment on Thursday also helped the market stage a smart rally.
Top losers in the session included Maruti, Tata Motors, RIL, Yes Bank, Adani Ports, Bharti Airtel, Asian Paints, ONGC, HUL, Kotak Bank, IndusInd Bank and Axis Bank, falling up to 5 per cent.
The US Fed will decide if it should raise interest rates from near-zero levels first time in a decade.
Actively managed debt funds with the flexibility to go long on duration made a strong comeback on the returns chart in 2023, thanks to softening bond yields. The average one-year returns of floater, long-duration, gilt, and dynamic bond funds, which ranged between 2.3 per cent and 4.5 per cent at the end of 2022, now stand at over 7.2 per cent, with some schemes delivering over 8.5 per cent, according to data from Value Research. Debt fund returns are inversely related to yields of underlying investments, meaning a decline in yields is positive for funds.
The broader NSE Nifty, after shuttling between 10,649.25 and 10,782.30 points, finally settled 90.50 points, or 0.84 per cent lower at 10,663.50.
The S&P BSE Small-cap index has recovered 26 per cent as compared to a 23 per cent rise in the S&P BSE Sensex.
Indian bonds remained volatile over the past week on uncertainties over the maiden offshore sovereign bonds issuance, according to a report by DBS Group Research.
Investments in Indian capital market through participatory notes (P-notes) dropped to Rs 94,826 crore till November-end after hitting 43-month high in the preceding month. P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.
The Securities and Exchange Board of India (Sebi) has introduced an optional T+1 settlement cycle for the markets. T+1 means that settlements will have to be cleared within one day of the actual transactions taking place. The regulator has put the onus on the stock exchanges to decide whether they want to opt for the shorter settlement cycle for any of the listed scrips. This can be done after giving a one-month prior notice to all stakeholders.
The 50-stock NSE barometer Nifty finished 14.75 points, or 0.14 per cent, down at 10,382.70 after shuttling between 10,340.65 and 10,393.15.
Major gainers include L&T, Asian Paints, Vedanta, Tata Steel, Coal India, Infosys, M&M, Adani Ports, Maruti Suzuki, Axis Bank, HDFC, Power Grid, ONGC, Tata Motors, Sun Pharma, ITC, IndusInd Bank, HDFC Bank and SBI
Sentiments may get impacted as mutual funds have been gaining traction among investors as route to invest in stock markets
Sensex has shed over 150 points in afternoon trade.
Mutual funds (MFs) are set to be net sellers of Indian equities for the first time in the past seven financial years, having sold stocks worth about Rs 1.27 trillion so far in 2020-21 (FY21), making it the highest net sales on record in a financial year. MFs had been net buyers in the previous six financial years, including purchases of over Rs 1.41 trillion in FY18, Rs 88,152 crore in FY19, and Rs 91,814 crore in FY20. The last time they offloaded Indian equities was in FY14, when they net sold stocks worth Rs 21,159 crore. In contrast, foreign portfolio investors (FPIs) have ramped up buying in FY21, purchasing more than Rs 2.6 trillion worth of shares.
The local currency had shed 2 paise to close at 63.44 on Tuesday.
Earners in between Rs 50 lakh and Rs one crore will have to pay 10% surcharge
Earners in between Rs 50 lakh and Rs one crore will have to pay 10% surcharge
The broader NSE Nifty, in a volatile session, recaptured the key 11,300-mark. It ended at 11,369.90, up 82.40 points or 0.73 per cent.
The uncertainty over the gravity of the pandemic's impact on the global economy and financial markets worldwide triggered a flight to safety among foreign investors as they rushed to exit from relatively riskier investment destinations, such as emerging markets like India, a report said.
Overall market benchmark Sensex is headed for its worst performance in four years with a decline of 1,650 points
In 2014, FIIs have infused a net amount of Rs 1,59,157 crore ( 1.59 trillion) in the debt markets.
The 50-share NSE Nifty plunged 98.65 points, or 0.87 per cent, to end at 11,278.90.
Companies spent less money buying back their shares from the public last year than at any time since 2015. They announced buybacks of up to Rs 14,341 crore, show numbers from primary market tracker Prime Database. The total amount spent was Rs 13,597 crore. Both the amounts are lower than what was offered (Rs 39,564 crore) and spent (Rs 36,517 crore) in 2020.
In February, FPIs sold $421 mn in debt; in March they have sold $133 mn so far
The local currency dropped to 61.75 before concluding at 61.70, a loss of seven paise from its previous close.
Hero MotoCorp, Bajaj Auto, M&M and Tata Motors were the major winners.
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