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.
The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
'Retail investors have to stick to their asset allocation plans and continuously do portfolio reviews.'
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
The Enforcement Directorate said on Monday that it had conducted search operations at four locations in Mumbai and Delhi as part of its money laundering investigation into an alleged Rs 4,500 crore (Rs 45 billion) fraud by Pancard Clubs Limited and others, in which more than 5 million investors have been duped.
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
Since Sanjay Malhotra took office as governor in December, the Reserve Bank of India (RBI) has adopted a more accommodative stance, which bodes well for banking and the economy as they navigate a growth slowdown, according to analysts.
Escalating trade tensions amid a tariff war after Donald Trump took over as President of the United States (US) could adversely impact global growth and fuel inflation, an article on the "State of the Economy" in the Reserve Bank of India (RBI) monthly bulletin said.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
The Indian rupee is down nearly 2 per cent against the US dollar since the beginning of January 2019. Experts attribute the Indian rupee's relatively poor performance to a sharper-than-expected fall in economic growth in India.
India's stock markets are experiencing a shift in investor sentiment, with a 30 per cent surge in Chinese stocks, prompting investors to move money from domestic markets to China. This reversal of fortunes is a notable change from the past three years, where China's losses benefited India.
From the 30 blue-chip pack, Mahindra & Mahindra, IndusInd Bank, Bajaj Finance, Tata Motors, Bajaj Finserv, Nestle and ICICI Bank were the biggest gainers. State Bank of India, Tata Steel, Adani Ports, Zomato, UltraTech Cement and HCL Tech were among the laggards.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
Equity benchmark indices Sensex and Nifty ended lower on Friday, dragged by auto stocks and relentless foreign fund outflows. Weak US markets and tariff threats also dented investor sentiment. The 30-share BSE benchmark Sensex dropped 424.90 points or 0.56 per cent to settle at 75,311.06.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
Prime Minister Narendra Modi received a tri-services ceremonial welcome in Colombo, Sri Lanka, marking the first time such an honor has been bestowed upon a foreign leader. The welcome took place at the historic Independence Square, the venue for national day celebrations. Modi's visit comes as Sri Lanka shows signs of recovery from a recent economic crisis, with India playing a significant role in providing assistance. During the visit, both leaders are expected to discuss a range of issues, including defense cooperation, energy, and digital initiatives.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
India's Minister of State for Home, Nityanand Rai, has announced a 71% decrease in terrorist incidents in the country under the Modi government. He credits a "zero tolerance" policy towards terrorism, which has resulted in no terror incidents in the hinterland. Rai also highlighted the National Investigative Agency's (NIA) successes, including the investigation of cases on foreign land and a conviction rate of 95.54%.
Firodia talked about his plans for the EV-components business, and the components business at large for the group
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
Analysts are warning of growing risks to the market's sustained momentum, and even to the possibility of consolidation at current levels. Domestically, markets are grappling with several challenges, including a slowing economy, as indicated by the latest GDP data for the July-September (Q2) quarter of 2024-25 (FY25), sticky inflation, fluctuations in the rupee, waning consumption, and high interest rates.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
Foreign investors have poured Rs 57,359 crore into Indian equities in September, making it the highest inflow in nine months, mainly driven by a rate cut by the US Federal Reserve. With this infusion, foreign portfolio investors' (FPIs) investment in equities has surpassed the Rs 1 lakh crore mark in 2024, data with the depositories showed. Going ahead, FPI inflows are likely to remain robust, driven by global interest rate easing and India's strong fundamentals.
'Prime Minister Modi should sit with Trump and find a solution to this issue.'
The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 82.68 against the greenback, then slipped further to 82.69, registering a fall of 39 paise over its previous close.
The depreciation in rupee may pose a problem for students who have taken loans from Indian lenders.
Led by Josh Hazlewood, RCB produced a dominant bowling performance to crush Chennai Super Kings by 50 runs.
From Sensex shares, Larsen & Toubro, Tata Motors, Hindustan Unilever, Asian Paints, ITC, Power Grid, NTPC and Reliance Industries were the major laggards. Among the gainers, Bajaj Finance jumped over 5 per cent. Mahindra & Mahindra, Bajaj Finserv, Bharti Airtel and Maruti also ended higher.
The sharp pullback in mid and smallcap stocks signals a cooling-off period in segments that previously attracted considerable investor interest.
'The irony of this country is that the party in Opposition and the party in power both depend on Muslims.'
Amid fast-depleting forex reserves, the Finance Ministry on Wednesday signalled that it was not in favour of selling the dollar to defend any particular level of the rupee. "Let it (rupee) reach whatever levels it has to reach. We can't fritter away reserves on defending some artificial, imaginary rate of exchange," a senior finance ministry official told Business Standard. Forex reserves declined to a near two-year low of $545.65 billion as on September 16, down $85.88 billion from the level that existed on February 25, a day after Russia invaded Ukraine.
Shipments of personal computers grew 3.8 per cent on a year-on-year basis to 14.4 million driven by demand for gaming and AI-powered PCs, market research firm IDC said on Monday. IDC India, South Asia and ANZ, associate vice president for devices research, Navkendar Singh said the weakening rupee can lead to an increase in device costs, which can impact the price-sensitive SMB (small and medium businesses) and consumer segments but despite all challenges, the India PC market is most likely to witness a low single-digit growth in 2025.
'The Congress cannot speak the BJP's words while targeting Kejriwal.' 'What is the difference between the two? Where is the unity of INDIA then?'
The ongoing conflict between Ukraine and Russia is unlikely to have any major impact on the Indian rupee and the forex volatility in the country (USD/INR) has been much less now as compared to the global financial crisis which took place in 2008, SBI said in its Ecowrap research report. The report said that though the conflict between the two CIS nations may drag on for now, it is expected that the USD/INR, the most tracked pair in the local forex market, will trade at an elevated zone. But ideally, the expected average range of the rupee is expected to be in the band Between Rs 76 to Rs 78 to the USD with an appreciated bias.
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.
Information technology (IT) stocks ended at their lowest in nearly nine months after a fresh bout of selling, triggered by concerns over a recession in the US, the key market for domestic software exporters. A report by Morgan Stanley citing risks to growth also weighed on sentiment.
The combined wealth of India's dollar billionaires is now equivalent to 33.81 per cent of India's nominal GDP.
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