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FPIs flood Indian equity markets, infuse Rs 1.5 trn despite uncertainty

17Dec

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FPIs flood Indian equity markets, infuse Rs 1.5 trn despite uncertainty

FPIs made a net infusion of Rs 25,752 crore in equities in 2021, Rs 1.7 trillion in 2020, which was the best year, and Rs 1.01 trillion in 2019. In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 trillion in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 trillion by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years. Going forward, as the general elections approach next year, political stability and economic growth will become focal poin...

‘Irrational exuberance’: Kotak stops mid-cap recommendations

NEW DELHI: Kotak Institutional Equities has ceased to recommend Indian mid-cap companies as it finds few stocks, apart from a select few in the financial sector, that have further upward potential following the mid-cap index's remarkable surge this year.The domestically focused mid-cap index has reached numerous all-time highs, posting a 31% gain this year, significantly outperforming the 10% rise in the benchmark Nifty 50 index. This exceptional rally has raised concerns of a potential market correction.Kotak analysts Sanjeev Prasad, Anindya Bhowmik, and Sunita Baldawa expressed their view in a note, stating, "The primary driver of the rally appears to be irrational exuberance among investors, with high-return expectations being driven by the high returns of the past few months. We see l...

US Stocks Mixed as Investors Navigate Russian Turmoil and Fed Policy

Wall Street was mixed on Monday and crude prices rose as investors digested the aborted Russian mutiny over the weekend and wrestled with lingering concerns over the path of Federal Reserve monetary policy.The S&P 500 was modestly lower, while megacap momentum stocks pulled the tech-heavy Nasdaq to a sharper decline.The blue-chip Dow was held aloft by consumer discretionary and industrials. Economically sensitive transports and smallcaps were outperforming.“We’re having a bit of a correction, with (Fed Chair Jerome) Powell still talking about keeping rates higher for longer," said Paul Nolte, senior wealth adviser and market strategist at Murphy & Silvest in Elmhurst, Illinois. “A lot of those big tech companies have had quite a run, so we’re seeing a rotation into smallcaps and v...