Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country’s robust economic fundamentals.
Additionally, they injected Rs 4,000 crore in the debt market during the period under review, data with the depositories showed.
With expectations of a prolonged decline in US interest rates in 2024, there is an anticipation that FPIs will likely escalate their purchase, particularly in the initial months of the New Year leading up to the general elections, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Further, FPI inflows into debt will also see acceleration in 2024, he added.
According to the data, foreign investors made a net investment of Rs 4,773 crore in Indian equities this month (till January 5).
This came following a massive investment of Rs 66,134 crore in December and Rs 9,000 crore in November.
The latest flow ca
Posts in category Business Standard
FPIs infuse Rs 4,800 cr in equities in first week of Jan on economic boost (07-01-2024)
M-cap of 6 of 10 most valued firms decline by Rs 57,408 cr; TCS takes hit (07-01-2024)
The combined market valuation of six of the top-10 most valued firms declined Rs 57,408.22 crore last week, with Tata Consultancy Services (TCS) and HDFC Bank taking the biggest hit, in-line with muted trends in equities.
Last week, the BSE benchmark declined 214.11 points, or 0.29 per cent, even after hitting an all-time high of 72,561.91 on January 1.
The market valuation of TCS fell by Rs 20,929.77 crore to Rs 13,67,661.93 crore, the most among the top-10 firms.
HDFC Bank’s market capitalisation (mcap) declined Rs 20,536.48 crore to Rs 12,77,435.56 crore.
The valuation of Hindustan Unilever fell Rs 10,114.99 crore to Rs 6,15,663.40 crore.
The mcap of Infosys went down Rs 4,129.69 crore to Rs 6,36,222.11 crore, and that of ICICI Bank by Rs 1,608.05 crore to Rs 6,97,357.42 crore.
The valuation of State Bank of India dipped Rs 89.24 crore to Rs 5,72,826.22 crore.
However, the mcap of Reliance Industries jumped Rs 14,816.85 crore to Rs 17,63,644.77 crore while ITC added Rs 14,409
Markets to take cues from quarterly earnings of TCS, Infosys, say analysts (07-01-2024)
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said.
Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said.
“On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year. Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices.
“Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored,” said Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd.
Infosys and Tata Consultancy Services (TCS) will announce their earnings on Thursday while the quarterly results of HCL Technologies and Wipro will be out on Friday.
Sunny Agrawal, Head of Fundamental Equity Research, SBI Securities Lt
CMAI, UK-based VCMI partner to help stakeholders in carbon credit trading (06-01-2024)
The Carbon Markets Association of India (CMAI) has partnered with global body Voluntary Carbon Market Integrity Initiative (VCMI) to help stakeholders in carbon credit trading.
The agreement with London-headquartered VCMI aims to guide industry players from the registration process for projects involved in the generation of carbon credits, monitoring of projects to trading of the carbon credits generated in a transparent manner, CMAI said in a statement.
The partnership will seek to promote an enabling environment for high-integrity voluntary carbon market (VCMs) that attract private investment aligned with national and sub-national climate and socioeconomic policy priorities, the statement said.
As part of the agreement, CMAI and VCMI will facilitate the stakeholders in scaling up carbon finance activities across priority sectors in India.
VCMI is an international non-profit organization which works to enable high-integrity voluntary carbon markets (VCMs). The organization is alig
Unicommerce files draft papers with Sebi to raise capital through IPO (06-01-2024)
E-commerce-focussed IT firm Unicommerce has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi.
Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan’s SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares and B2 Capital Partners will be selling up to 22 lakh shares.
Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders.
Unicommerce eSolutions is the fifth tech company which has filed IPO papers. Awfis Space Solutions, Ola Electric, Firstcry, and MobiKwik are the other technology companies that have filed draft papers in the past two weeks.
Founded in 2012, Unicommerce eSolutions is India’s lea
Dollar flat after mixed US data, on pace for best weekly gain since July (06-01-2024)
For the week, the dollar gained 1.1%, on pace for its best weekly rise since mid-July
Gold price falls Rs 110 to Rs 63,270, silver unchanged at Rs 76,600 (06-01-2024)
The price of 22-carat gold fell Rs 100, with the yellow metal selling at Rs 58,000
Azim Premji family office gets nod to bet abroad through GIFT City (05-01-2024)
Premji Invest and billionaire Narayana Murthy-backed Catamaran Ventures were among the first to seek approvals, according to the people
Albula Investment Fund sells Swan Energy’s shares worth Rs 157 crore (05-01-2024)
Albula Investment Fund on Friday sold shares of Swan Energy for Rs 157 crore through an open market transaction.
Bandhan Mutual Fund (MF), Samco MF, BNP Paribas Arbitrage, Societe Generale, and Resonance Opportunities Fund, among others were the buyers of shares.
According to the block deal data available with the National Stock Exchange (NSE), Albula Investment Fund offloaded 30.24 lakh shares, amounting to a 1.14 per cent stake in Swan Energy.
The shares were disposed of at an average price of Rs 519.90 apiece, taking the deal value to Rs 157.22 crore.
Shares of Swan Energy rallied 7.48 per cent to close at Rs 563.60 per piece on the NSE.
Swan Energy on Thursday said it has formally taken over management control of Reliance Naval & Engineering. The company had emerged as the winning bidder under an insolvency resolution process.
The acquisition of Reliance Naval marks the company’s entry into the shipbuilding, ship repairing, and heavy fabrication industry.
Swan Group has …
Strong order book, upgrades help HAL fly past the Rs 2 trillion mcap mark (05-01-2024)
The shares of HAL hit a new high of Rs 3,038.60, surging 5 per cent on the BSE in intraday trade on Friday on a robust business outlook