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Global investors are reducing Indian equity exposure due to a lack of AI investment themes. Foreign portfolio ownership has fallen to a seventeen-year low as funds exit the market. India now ranks as the least-favored market in Asia according to a recent survey. Local institutions are providing support, but foreign capital remains a concern. Investors seek more durable foreign direct investments to fuel manufacturing ambitions.
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News and Media
The Indian rupee fell by eleven paise on Friday, closing at 95.55 against the dollar as benchmark crude oil prices rose to $105 per barrel, fueling global uncertainties. The rupee faced mounting pressure from external factors during the week, with a notable demand for dollars from oil companies and dollar sales from state-run banks. It appears that the Reserve Bank of India stepped in to mitigate further currency depreciation.
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News and Media
Indian equities experienced a decline on Friday, mirroring Asian markets' downward trend. Both Nifty and Sensex indices closed lower for a fifth consecutive week. Rising crude oil prices and US bond yields kept investors on edge throughout the trading session. Broader market indices also saw a dip, reflecting the overall market sentiment. Despite some recovery, the market's fear gauge, VIX, increased significantly.
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News and Media
The National Stock Exchange of India's IPO opens September 17, closing September 21. Its price band is set between 1,700 and 1,785 per share. This offer for sale will raise 22,561.5 crore from existing shareholders. The issue size was reduced by fifteen percent from earlier proposals. Share allotment is expected September 22, with listing on September 24.
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News and Media
The Reserve Bank of India will drain Rs 1 lakh crore through bond sales this month after VRRR auctions failed to absorb excess liquidity. The move follows dollar inflows, with Governor Sanjay Malhotra signalling multiple tools to manage surplus funds.
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News and Media
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