Metals are under pressure due to US-China trade war issues, says Umesh Mehta of SAMCO Securities
There are as many as 22 stocks on BSE where FIIs hold 40-70 percent stake. These include UPL, NIIT Technologies, HDFC Bank, Bharti Infratel, ICICI Bank and Mindtree
Jerome Anthony gets in conversation with Moneycontrol Editor Santosh Nair to find out what happened in the market this past week, the key business events and what should investors track in the coming week.
According to the latest data from the BSE, foreign portfolio investors (FPIs) bought securities worth Rs 10,437.99 crore and sold securities amounting to Rs 4,126.98 crore, translating into a net inflows of Rs 6,311 crore.
Nifty50 and Sensex registered a drop of over 1 percent in the first week of 2019 which suggests that we are not out of the woods
We expect the market to witness sideways movement in the first half of 2019 and take a remarkable leap in the second half with emerging clarity over political landscape and sustained low oil prices and soft headline inflation
From a macro perspective, our country can look a tad bit expensive, but considering the growth profile and the possibility of value unlocking from balance sheets, it is bound to remain expensive
"Foreign Portfolio Investors have returned to invest in equity and debt quite strongly in November. FPIs investment at (Rs) 4,786 crore in equity and (Rs) 6,139 crore in debt, together at (Rs) 10,925 crore, is the highest during the financial year," Garg tweeted.
FIIs which turned net sellers in Indian Capital markets in August, September and October pulling out nearly Rs 60,000 crore in the last three months turned net buyers in November.
FIIs raised stake in 96 companies which fell up to 84 percent in 2018.
According to the latest report by IMF, India is poised to grow at 7.4 percent in 2018 and 7.8 percent in 2019, making it the fastest growing economy among peers overtaking China.
So far, FPIs have already sold a net of Rs 66,000 crore in Indian debt and equity this year.
The latest inflow comes following a net infusion of over Rs 2,300 crore in the capital markets -- both equity and debt -- last month. Prior to that, overseas investors had pulled out over Rs 61,000 crore during April-June.
Foreign portfolio investors (FPIs) had taken out more than Rs 15,500 crore from capital markets (equity and debt) in April.
"Just as you can't have single strategy for Europe, so you can't have one strategy for India. You should have state specific strategies. Koreans have focused on one or two states in India and they have succeeded," he said while participating in a panel discussion organised by UK India Business Council (UKIBC) here.
However, they pulled out nearly Rs 10,000 crore from the debt markets during the period under review, depositories data showed.
India has a very clear reform agenda to address long-standing issues, particularly around infrastructure spending, he said.
The minister is scheduled to meet Singapore Prime Minister Lee Hsien Loong. On November 15, Jaitley will visit the Singapore Expo and deliver the keynote address at the Singapore Fintech Festival, a global event that draws over 10,000 participants.
According to Sebi data, the number of FPIs with the regulator's approval increased to 8,826 at the end of September 2017, from 7,807 at March-end, resulting in an addition of 1,019.
Speaking at the valedictory function of the World Food India, Kovind said, "Food is culture – but food is also commerce. India’s food consumption is currently valued at US 370 billion. It is expected to reach USD 1 trillion by 2025, in less than a decade. There are opportunities across the entire food value chain in India."
The investment limit for Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in Parag Milk Foods has increased from 24 per cent to 40 per cent of its paid up capital.
However, since new RBI policy does not permit RCAP to hold more than 10 per cent of a bank, SMTB has booked profit at Rs 650 per share and sold its stake to FIIs, investment banking sources said.
Interestingly, most of the funds have been invested in the debt markets by the foreign portfolio investors (FPIs).
This comes following a record net inflow of Rs 56,944 crore (USD 8.7 billion) last month, mainly on expectations that BJP's victory in the recently held assembly polls would lead to faster reforms.
In February, Foreign Portfolio Investors (FPIs) had made a net investment of Rs 15,862 crore in equity and debt markets. Prior to that, FPIs had pulled out more than Rs 80,000 crore between October 2016 to January 2017.