Foreign investors infused over Rs 7,900 crore in Indian equities in the first week of the month amid a healthy economic and earnings growth momentum.
With this, total FPI investment in equities reached Rs 1.16 lakh crore so far this year, data with the depositories showed.
Going forward, the Union Budget and Q1 FY25 earnings could determine the sustainability of FPI flows, experts said.
According to the data, foreign portfolio investors (FPIs) have made a net inflow of Rs 7,962 crore in equities so far this month (till July 5).
This came following an inflow of Rs 26,565 crore in equities in June, driven by political stability and a sharp rebound in markets.
Before that, FPIs withdrew Rs 25,586 crore in May on poll jitters and over Rs 8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in US bond yields.
Some funds were probably waiting on the sidelines for the election event to be over, Milind Muchhala, Executive Director, Juliu
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FPIs put Rs 7.9K cr in equities in July, investment over Rs 1 trn in 2024 (07-07-2024)
Mcap of 8 most-valued firms jumps Rs 1.83 trn; TCS, Infosys biggest gainers (07-07-2024)
Eight of the top-10 most valued firms together added Rs 1,83,290.36 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, in line with a rally in equities.
Last week, the BSE benchmark jumped 963.87 points, or 1.21 per cent.
The market valuation of TCS jumped Rs 38,894.44 crore to Rs 14,51,739.53 crore, becoming the biggest gainer among the top-10 firms.
Infosys added Rs 33,320.03 crore taking its valuation to Rs 6,83,922.13 crore.
The valuation of Reliance Industries climbed Rs 32,611.36 crore to Rs 21,51,562.56 crore and that of ICICI Bank zoomed Rs 23,676.78 crore to Rs 8,67,878.66 crore.
The market capitalisation (mcap) of Life Insurance Corporation of India (LIC) rallied Rs 16,950.99 crore to Rs 6,42,524.89 crore and that of Hindustan Unilever surged Rs 16,917.06 crore to Rs 5,98,487.89 crore.
The mcap of ITC went up by Rs 10,924.13 crore to Rs 5,41,399.95 crore.
State Bank of India’s valuation climb
Global trends, earnings from TCS, HCLTech to guide mkts this week: Analysts (07-07-2024)
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said.
Markets may consolidate after the record rally last week, experts added.
“On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively. Additionally, India’s Union budget in July is a key event, with hopes pinned on growth-oriented policies and development of monsoon season, which will also be significant points of interest for investors and traders,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
The US Federal Reserve Chair Jerome Powell’s testimony is scheduled for July 9, 2024, he added.
“Furthermore, the activities of both foreign and domestic institutional investors (FII & DII) will be tracked, …
Tricom Fruit Products reports standalone net loss of Rs 0.05 crore in the June 2024 quarter (06-07-2024)
Reported sales nil
Emcure Pharmaceuticals IPO ends with stellar subscription (06-07-2024)
The offer received bids for 92.99 crore shares as against 1.37 crore shares on offer.
PEL board OKs ad hoc appointments post Rupen Patel’s passing (06-07-2024)
Patel Engineering (PEL) informed that its board approved several appointments as an ad hoc arrangement for seamless functioning after the demise of Rupen Patel, promoter/ chairman & managing director of the company.
Bansal Wire Industries IPO ends with strong subscription (06-07-2024)
The offer received bids for 127.85 crore shares as against 2.14 crore shares on offer.
Info Edge Q1 FY25 billings climb 11% YoY (06-07-2024)
Info Edge announced that its standalone billings increased by 10.78% to Rs 579.4 crore in Q1 FY25 compared with Rs 523 crore in Q1 FY24.
IndusInd Bank advances climb 16% YoY in Q1 FY25 (06-07-2024)
The private lender’s net advances jumped 16% to Rs 3,48,107 crore as of 30 June 2024 as compared to Rs 3,01,317 crore as of 31 March 2023.
Adani Wilmar reports 13% volume growth in Q1 FY25 (06-07-2024)
The FMCG company on Friday said that it has achieved robust volume growth of 13% YoY in Q1 FY25, propelled by market-specific strategies in each category, aimed at gaining market share, especially in under-indexed markets.