Foreign investors infused Rs 32,365 crore into Indian equities in July on the back of expectation of continued policy reforms and sustained economic growth and better-than-expected earnings season.
However, they pulled Rs 1,027 crore from equities in the first two trading sessions of this month (August 1-2), data with the depositories showed.
There has been a mixed trend with respect to FPI flows following the budget announcement on increase in capital gains tax on equity investments.
Going forward, developments in the US economy and markets will set the trend for FPI in August, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
“Weaker-than-expected employment data along with slowing economy has made it certain that the US Fed is expected to cut rates in September. The more important question here is the extent of cut. Currently, there is strong commentary getting built for maybe a 50 basis points rate cut in interest rates,” Vaibhav Porwal, Co-founder
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FPIs invest Rs 32,365 cr in equities in July on continued policy reforms (04-08-2024)
Mcap of 8 of top-10 most valued firms slump Rs 1.28 trn; TCS, Infosys lag (04-08-2024)
Eight of the top-10 most valued firms together lost Rs 1,28,913.5 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards, amid weak trend in equities.
The valuation of TCS tumbled Rs 37,971.83 crore to Rs 15,49,626.88 crore, the most among the top-10 firms.
The market capitalisation (mcap) of Infosys tanked Rs 23,811.88 crore to Rs 7,56,250.47 crore.
ITC’s mcap dropped by Rs 16,619.51 crore to Rs 6,11,423.11 crore and that of State Bank of India slumped by Rs 13,431.54 crore to Rs 7,56,717.85 crore.
The valuation of Reliance Industries Limited declined by Rs 13,125.49 crore to Rs 20,28,695.57 crore.
Bharti Airtel’s market valuation went lower by Rs 11,821.5 crore to Rs 8,50,389.88 crore and that of ICICI Bank diminished by Rs 7,843.75 crore to Rs 8,42,176.78 crore.
The valuation of Hindustan Unilever dipped by Rs 4,288 crore to Rs 6,32,862.41 crore.
However, the mcap of HDFC Bank jumped Rs 32,759.37 crore
RBI rate decision, global trends major factors to drive mkt: Analysts (04-08-2024)
RBI interest rate decision, macroeconomic data and global trends would guide markets’ movement this week, analysts said.
Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities.
HSBC PMI (Purchasing Managers’ Index) for the services sector is scheduled to be announced on Monday.
“This week, all focus will be on the global markets as we are seeing the first major signs of weakness after a long period of stability. This will test the strength of the Indian market, which has remained resilient due to strong domestic liquidity and a better macroeconomic outlook despite global headwinds and valuation concerns,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
On the domestic front, the upcoming RBI’s monetary policy announcement on August 8 will be important, Meena added.
“The last batch of Q1 earnings will drive stock-specific movements. Additionally, institutional flows will play a crucial role i
Central Depository Services (India) consolidated net profit rises 82.41% in the June 2024 quarter (03-08-2024)
Sales rise 71.96% to Rs 257.39 crore
Airo Lam consolidated net profit declines 20.99% in the June 2024 quarter (03-08-2024)
Sales rise 7.48% to Rs 52.28 crore
Gayatri BioOrganics reports standalone net loss of Rs 0.21 crore in the June 2024 quarter (03-08-2024)
Reported sales nil
Kotia Enterprises reports standalone net loss of Rs 0.05 crore in the June 2024 quarter (03-08-2024)
Sales reported at Rs 0.13 crore
Decillion Finance reports standalone net profit of Rs 0.10 crore in the June 2024 quarter (03-08-2024)
Sales decline 3.70% to Rs 0.26 crore
Chemcon Speciality Chemicals standalone net profit declines 9.14% in the June 2024 quarter (03-08-2024)
Sales decline 42.62% to Rs 45.52 crore