INDIA
FIIs rush in for power sector shares in April, sell off FMCG, IT stocks
The FIIs made substantial investments in the financial services sector at Rs 3,212 crore, consumer services sector at Rs 1,713 crore, and automotive and telecommunications sectors at Rs 1,660 crore each
BUSINESS
Adani Group releases Rs 26,500 crore pledged shares in FY24
In FY24, Adani Power saw the largest release of promoter pledge shares, followed by Adani Ports & SEZ and Adani Green Energy. In March 2023, Adani Power had pledged 72.72 crore promoter shares, which has now reduced to 44.56 crore
INDIA
Big bet gets bigger. GQG bough additional shares worth Rs 8,300 crore in Adani Group companies in March quarter
As of the March 2024 quarter, GQG Partners' stakes in the six Adani Group firms were valued at around Rs 54,300 crore, after surging 33 percent from Rs 40,480 crore in the previous quarter. The companies are Adani Enterprises Ltd, Adani Energy Solutions Ltd, Adani Green Energy Ltd, Adani Ports and SEZ, Adani Power Ltd and Ambuja Cement Ltd.
INDIA
ICICI Pru MF alone picks up Rs 5,822-crore ITC shares in March block deals
ICICI Prudential bought around 13.85 crore shares in ITC in block deals valued at Rs 12,695 crore. As many as 32 other mutual funds bought around Rs 2,991-crore shares in ITC in March
INDIA
Groww grabs market share from rival discount brokers, traditional platforms
Groww’s active investor base swelled to 9.5 million active investors in March 2024, up 77.5 percent from a year ago, according to NSE data. Its market share has expanded to 23.4 percent, from 16.5 percent last year.
BUSINESS
Midcap, smallcap stocks see MFs buying on dips during March correction
Several analysts have cautioned investors to stay away from the midcap and smallcap stocks for now and, instead, focus on quality stocks only
BUSINESS
Only four stocks contribute 60% to the 5,000-point rally in Sensex to Summit 75K
The market cap of these four stocks increased by Rs 7.31 lakh crore, with Reliance Industries alone contributing over 29 percent to the surge in Sensex
INDIA
Historic moment: BSE-listed firms' m-cap hits Rs 400 lakh crore for first time ever
The market capitalisation of BSE-listed companies crossed Rs 400 lakh crore for the first time to hit a lifetime high on 8 April 2024, with continued rally in blue-chip, mid-cap and small-cap indices.
INDIA
Fab four for foreign investors corner 60% of FII inflows in FY24
In FY24, Indian equities saw a total foreign inflow of Rs 2.08 lakh crore. Capital goods received the largest share at around Rs 46,935 crore, followed by consumer services, auto, and financial services with inflows worth Rs 32,186 crore, Rs 29,862 crore, and Rs 28,793 crore, respectively
INDIA
Demat account additions reach a record 3.7 crore in FY24
the number of Rs 1-trillion mcap stocks has increased to 80 from 48 last fiscal year, accompanied by a significant rise in coverage by sell-side analysts, with 250 stocks now covered by at least 10 analysts
INDIA
Gold underperforms flagship Sensex, Nifty in FY24
In FY24, Sensex and Nifty surged around 25% and 29% respectively, while MCX Gold and international gold saw gains of 12.5% and 13.2%, respectively. This marks the seventh consecutive year of positive returns for MCX gold and the fourth consecutive year for international gold
INDIA
The trillion rupee club: 80 firms with Rs 1 trilion in marketcap in FY24, up from 48 previous fiscal
This figure marks a notable increase from FY23 and FY22, with 48 firms achieving a market capitalisation exceeding Rs 1 lakh crore each year. In FY21, the count stood at merely 36. Contrastingly, FY20 saw 19 such firms, a decrease from FY19 and FY18 when 29 and 27 listed companies reached this milestone, respectively
MARKETS
Has the mid and small-cap fall ended? Investors upbeat, analysts in doubt
Mutual funds and PMS fund managers face pressure to deploy funds, despite expensive valuations. They may lean towards largecaps to mitigate volatility, although this trend could further inflate valuations in that segment, analysts said
BUSINESS
March sees sharp decline in stock market volumes amid heightened volatility
The average daily turnover in the equity cash segment of the BSE and the NSE dropped 13.33 percent, the most since October 2023, to Rs 1.12 lakh crore. Similarly, the average daily turnover for derivatives decreased by 8.76 percent to Rs 373.44 lakh crore
BUSINESS
Shapoorji Pallonji Group firm Afcons Infra files draft papers to raise Rs 7,000 crore via IPO
Proceeds worth Rs 150 crore from the issue will be used for capital expenditure, Rs 350 crore will be used to fund long-term working capital requirement
BUSINESS
India beats rest of Asia with highest foreign funds flow, domestic buying hits 4-year high in March
Foreign Institutional Investors (FIIs) pumped $3.63 billion into Indian equities in their biggest buying binge since December 2023. Domestic institutions continued to be net buyers, investing around Rs 52,467 crore in the market, their highest since March 2020
BUSINESS
Mutual funds cut stakes in frothy PSUs as large undervaluation vanishes
The largest sell-off was seen in SJVN, where holdings were cut by over 53%, followed by Ircon International and NMDC Steel, with reductions of around 47% and 30% respectively.
BUSINESS
How bad is too bad? Smallcap carnage wipes out Rs 9 trillion, 50% of loss in market cap
Smallcap stocks had a remarkable run over the past year, outpacing largecaps by a wide margin. From April 1, 2023, to February 19, 2024, the BSE Sensex posted a gain of about 24%, compared to BSE Smallcap's 71%
BUSINESS
A third of stocks listed in FY24 trade below their issue price
Some 73 Indian mainboard companies raised a total of over Rs 60,000 crore in the primary market in FY24. Twenty-six of these 73 companies are trading below their offer price
BUSINESS
Losing stocks outnumber gainers 9:1, experts say mood turning bearish
So far today. on the BSE, out of 3.838 stocks, 422 rose, 3.340 fell, and 76 remained unchanged. Today's ratio stands at 0.13, compared to 0.28 on March 12 and 0.39 on March 11. In March, only four days recorded a ratio above 1, with the remaining days trading below 1.
BUSINESS
Six MFs completely exited Paytm stock; six cut stake sharply in Feb
Mahindra Manulife Mutual Fund (15.16 lakh shares), Quant Mutual Fund (6.13 lakh shares), Bajaj Finserv MF (2.1 lakh shares), JM Financial MF (1.67 lakh shares), Union MF (1.15 lakh shares), and Baroda BNP Paribas MF (17,000 shares) have completely divested from Paytm stock.
BUSINESS
Mutual funds bought HDFC Bank shares worth Rs 8,400 crore in February
Mutual funds bought around 6.01 crore shares in February. As of February 2024, mutual funds held around 142.27 crore shares in HDFC Bank from 136.26 crore shares in January
BUSINESS
SIP closure ratio at 27 month-low of 43% in February: AMFI data
In February, 49.80 million new SIP accounts were registered, compared with 51.84 million a month ago — down 4 percent. Discontinuations fell 10.3 percent during the period, from 21.33 million to 23.8 million, data from the Association of Mutual Funds in India shows
BUSINESS
Fresh demat accounts exceed 40 lakh for the 3rd straight month in Feb
What intrigues a market observer is the fact that the rush to enter the market stays unhindered despite brokerage warnings on high valuations and sustained caution on PSU stocks, midcaps and smallcaps
