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FPIs beat mutual funds by rupee returns despite $27 billion exodus
Despite record outflow of $27 bn or ₹2.4 trillion, foreign portfolio investors' totted a rupee return on assets of 7.7% against MFs' 4.4%, thanks to Nifty outperforming broader markets last year. In dollar terms though their returns lag those of MFs.
Benchmarks pare steep losses; Sensex slides 304 points, Nifty ends below 23,450
The domestic equity benchmarks staged a sharp recovery from intraday lows on Wednesday as bargain hunting emerged after the morning selloff. The Nifty, which slipped to an intraday low of 23,151.50, rebounded nearly 250 points and climbed back above the 23,400 mark in late trade. Sentiment improved as investors accumulated beaten-down stocks. However, caution persisted amid uncertainty surrounding U.S.-Iran ceasefire negotiations, which kept global energy markets volatile and crude oil prices elevated. Despite the recovery, the index settled below the 23,450 level, weighed down by weakness in IT and FMCG stocks. Analysts said the Nifty remains technically weak, with immediate support seen at 23,300 and resistance at 23,600.
Sensex drops 738 pts; FMCG shares decline
At 11:30 IST, the barometer index, the S&P BSE Sensex, slipped 737.88 points or 0.99% to 73,846.14. The Nifty 50 index lost 198.70 points or 0.85% to 23,286.
RBI MPC meeting begins today: Will RBI announce a rate hike as Middle East conflict threatens to drive inflation?
According to wealth management firm DSP Mutual Fund, the central bank is unlikely to announce a rate hike, instead, the bank is likely to follow a step-by-step sequence before pulling the trigger on rates to defend the currency.
INR depreciates further to one-week low as oil stays elevated amid Middle East turmoil
The Indian rupee depreciated further in opening trades on Wednesday as oil prices stay elevated, driving fears of inflationary pressures in future. INR opened at Rs 95.43 per dollar and hit a low of 95.65 so far during the day. Yesterday, rupee fell 15 paise to close at 95.34 against the US dollar, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. Local equities continue to stay strained in early trades with BSE Sensex trading at 73,866.45, down by 783.39 points and NSE Nifty 50 trading at 23,247.90, down by 235.65 points.
INR settles lower as global crude oil prices stay elevated amid Middle East turmoil
The Indian rupee depreciated 15 paise to close at 95.34 (provisional) against the US dollar on Tuesday, as global crude oil prices jumped and the American currency remained firm amid massive safe-haven inflows. Significant foreign fund outflows also weighed on the investor sentiments. At the interbank foreign exchange market, the rupee opened at 95.16 against the US dollar, then touched an intraday high of 95.03 and a low of 95.37. Indian shares closed higher on Tuesday, staging a rebound after four days of losses as investors assessed mixed signals over the status of U.S.-Iran peace talks and awaited upcoming RBI rate decision. The Nifty 50 gained 100.95 points (0.43%) to close at 23,483.55, while the Sensex rose 382.50 points (0.52%) to settle at 74,649.84.
Emami Ltd drops for fifth straight session
Emami Ltd is quoting at Rs 392.55, down 1.27% on the day as on 13:19 IST on the NSE. The stock tumbled 34.27% in last one year as compared to a 4.38% slide in NIFTY and a 12.78% fall in the Nifty FMCG index.
RBI clears Mirae Asset MF to raise stake in Equitas SFB up to 9.5%
The RBI has approved Mirae Asset Mutual Fund to acquire an aggregate holding of up to 9.5% in Equitas Small Finance Bank. The approval is valid for one year and is subject to compliance with banking and securities regulations.
Why did market fall today? Sensex drops 500 points, Nifty closes below 23,400: 4 key factors
Indian stock markets experienced a sharp decline on Monday. The Sensex and Nifty both fell significantly. This downturn was driven by substantial foreign investor selling and growing concerns over the Iran-US conflict. Rising oil prices and increased market volatility also contributed to the negative sentiment. While IT stocks showed resilience, broader market indices and FMCG stocks faced losses.
Nifty FMCG index sheds 2%; Dabur slips 4%; ITC, Britannia hit 52-week lows
In the past one month, the FMCG index has underperformed the market, by falling 5 per cent, as against 2.3 per cent decline in Nifty 50.
Indices trade with significant cuts; FMCG shares decline
At 14:30 IST, the barometer index, the S&P BSE Sensex declined 458.03 points or 0.61% to 74,317.71. The Nifty 50 index fell 143.10 points or 0.61% to 23,403.35.
Forget Equity Research? Radhika Gupta Lists The Real High-Growth Jobs In Finance
File image of Edelweiss Mutual Fund MD and CEO Radhika Gupta