Foreign portfolio investors (FPIs) have pulled out close to Rs 4,800 crore from equities in the first fortnight of September on rising US bond yields, a stronger dollar, and concerns over global economic growth.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
In the coming days, FPIs are likely to press sale as the market is at record highs and valuations are high, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
“With high bond yields in the US (the 10-year is at 4.28 per cent) and the dollar index above 105, FPIs are likely to sell more,” he added.
According to the data with the depositories, Foreign Portfolio Investors (FPIs) pulled out a net sum of Rs 4,768 crore from the equities so far this month (till September 15). This figure includes bulk deals and investments through the primary market.
This came after FPI investment in equiti
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FPIs take out Rs 4,800 cr from equities in first fortnight of September (17-09-2023)
M-cap of nine of top-10 valued firms add Rs 1.80 trn; TCS biggest winner (17-09-2023)
The combined market valuation of nine of the top-10 most valued firms rallied by Rs 1,80,788.99 crore last week, amid an overall buoyant trend in equities, with Tata Consultancy Services (TCS) emerging as the biggest gainer.
Last week, the BSE benchmark jumped 1,239.72 points or 1.86 per cent. The 30-share BSE Sensex rallied for the 11th day running on Friday.
The 30-share BSE benchmark had jumped 319.63 points or 0.47 per cent to settle at a record closing of 67,838.63 on Friday. During the day, it rallied 408.23 points or 0.60 per cent to hit its fresh all-time intra-day high of 67,927.23.
Hindustan Unilever Limited was the only laggard from the top-10 pack. The list of winners had Reliance Industries Limited, TCS, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance.
The market valuation of TCS jumped Rs 57,300.75 crore to Rs 13,17,203.61 crore.
HDFC Bank added Rs 28,974.82 crore taking its market capitalisation (mcap) to Rs 12,58,989.87 …
US Fed interest rate, global cues key factors to drive markets: Analysts (17-09-2023)
The US Federal Reserve’s interest rate decision, global market trends and trading activity of foreign investors are the major factors that would dictate terms in the equity markets in a holiday-shortened week ahead, analysts said.
Equity markets will remain closed on Tuesday on account of Ganesh Chaturthi.
From the global front, interest rate decisions from the Bank of England and Bank of Japan would also influence market trends.
This week will place a significant focus on monetary policy as the Federal Reserve policymakers convene the latest FOMC (Federal Open Market Committee) meeting, with an interest rate decision on Wednesday, September 20, said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
“The movement of the rupee against the dollar, US bond yields, and crude oil prices will remain in focus,” Gour added.
Last week, the BSE benchmark jumped 1,239.72 points or 1.86 per cent, and the Nifty climbed 372.4 points or 1.87 per cent.
Rallying for the 11th day ru
Gold price rises Rs 220 to Rs 59,670, silver jumps Rs 500 to Rs 74,000 (16-09-2023)
The price of 22-carat gold rose Rs 200, with the yellow metal selling at Rs 54,700
RR Kabel subscribed 19x; Lukewarm response for Samhi Hotels & more (15-09-2023)
Fintech player Zaggle Prepaid Ocean Services’ initial public offering (IPO) received 43 per cent subscription on the second day of bidding
R R Kabel’s Rs 1,964 cr IPO subscribed 18.69 times on final day of bidding (15-09-2023)
The initial share sale of wires and cables manufacturer R R Kabel was subscribed 18.69 times on the final day of subscription on Friday.
The Rs 1,964-crore Initial Public Offering (IPO) received bids for 24,88,98,328 shares against 1,33,17,737 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) got subscribed 52.26 times. The quota for non-institutional investors attracted 13.23 times subscription while the portion for Retail Individual Investors (RIIs) was subscribed 2.13 times.
The IPO had a fresh issue of up to Rs 180 crore and offer for sale of up to 17,236,808 equity shares. Price band for the offer was at Rs 983-1,035 a share.
On Tuesday, the TPG-backed firm said it mobilised Rs 585.62 crore from anchor investors.
The company runs five manufacturing units — one cable and wire unit each at Waghodia in Gujarat and at Silvassa in Dadra and Nagar Haveli, and a commercial lightings plant in Bengaluru.
It also has a fast moving electrical goo
Zaggle Prepaid Ocean Services’ IPO receives 43% subscription on Day 2 (15-09-2023)
Fintech player Zaggle Prepaid Ocean Services’ initial public offering received 43 per cent subscription on the second day of bidding on Friday.
The initial public offering (IPO) got bids for 82,96,560 shares against 1,93,26,761 shares on offer, as per data available with the NSE.
The portion for Retail Individual Investors (RIIs) got subscribed 1.90 times and the category for non-institutional investors received 29 per cent subscription.
The IPO received 19 per cent subscription on Thursday, the first day of the bidding.
The IPO has a fresh issue of up to Rs 392 crore and offer for sale of up to 10,449,816 equity shares.
Price range for the share sale is at Rs 156-164 apiece.
Zaggle Prepaid Ocean Services on Wednesday said it has mobilised Rs 253.52 crore from anchor investors.
The company proposes to utilise Rs 300 crore of the net proceeds on expenditure towards customer acquisition and retention, up to Rs 40 crore on expenditure for the development of technology and products,
Sebi revokes Brickwork’s wind up order, bars taking clients for 6 months (15-09-2023)
Capital markets regulator Sebi has revoked its wind up order against Brickwork Ratings India and barred the credit rating agency to onboard new clients for a period of six months.
In June, the Securities Appellate Tribunal (SAT) set aside a Sebi ruling cancelling the licence of the credit rating agency and asked the regulator to pass a fresh order.
Brickwork Ratings India Pvt Ltd is a Sebi and RBI-accredited registered credit rating agency.
In an order on Wednesday, the markets regulator directed Brickwork Ratings India to strengthen its board and appoint an “independent professional chief executive officer and an independent director as chairperson”.
It has also directed Brickwork to increase the number of directors to nine from the current five and ensure that the new members of the newly constituted board are unconnected to the present management/founders of the company.
According to Sebi, the credit rating agency will ensure that members of the founding management are not part
Mutual funds, AIFs required to seek authorisation for each scheme: IFSCA (15-09-2023)
As of March 31, there were a total 50 schemes being offered by fund management entities
Yatra Online’s Rs 775 crore IPO subscribed 11% on first day of bidding (15-09-2023)
The Initial Public Offering (IPO) of travel company Yatra Online Ltd was subscribed 11 per cent on the first day of bidding on Friday.
The Rs 775 crore IPO received bids for 33,63,675 shares against 3,09,42,356 shares on offer, according to NSE data.
The category for retail individual investors received 55 per cent subscription while the quota for non-institutional investors got subscribed 3 per cent.
The IPO has a fresh issue of up to Rs 602 crore and an offer for sale of up to 12,183,099 equity shares.
The IPO is in the price range of Rs 135-142 per share.
Yatra Online on Thursday said it has mobilised Rs 348.75 crore from anchor investors.
At the upper end of the price band, the IPO will fetch up to Rs 775 crore.
Proceeds from the fresh issue worth up to Rs 150 crore will be utilised towards strategic investments, acquisitions and inorganic growth and up to Rs 392 crore towards investment in customer acquisition and retention, technology, and other organic growth initiatives.