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Foreign investors have withdrawn nearly Rs 20,000 crore from Indian stock markets in just five trading days (November 4–8), continuing a trend of large-scale selling that began last month. Experts say investors are now moving their money to China, largely due to the high valuations presently prevailing in Indian markets. In early November, FPIs have offloaded as much as Rs 19,994 crore in Indian markets. The month prior, i.e., October, was one of the worst months in terms of foreign outflows, with FPIs making a net withdrawal of Rs 94,017 crore. Before this, Indian markets faced such a situation during the pandemic, when FPIs withdrew Rs 61,973 crore from equities in March 2020. <h2>Why Are Investors Leaving? </h2>According to Himanshu Srivastava of Morningstar Investment Research India, two main factors are driving this exodus. First is China's renewed appeal due to lower stock valuations and new economic stimulus measures. In a bid to nudge the domestic economy and bail state governments, China recently approved a 10-trillion yuan (US $1.4 trillion) package. Per reports, approximately 60% of this stimulus focuses on allowing local governments to refinance the mountain of debt on them. Srivastava explains foreign investors are also flocking to US dollar and Treasury yields, which have appreciated significantly in the recent past, leading FPIs to anticipate a stronger US economy going ahead. Moreover, high valuations in Indian markets are discouraging foreign investors from putting more money in the economy. As a result, over the past week, the selling pressure eroded Rs 74,563 crore in market value for Reliance Industries, while Bharti Airtel and ICICI Bank lost Rs 26,274 crore and Rs 22,254 crore, respectively. The combined market valuation of six of the top 10 most-valued firms dipped by Rs 1,55,721.12 crore last week. <h2> Silver linings</h2>Despite the ongoing outflux of funds since last month, November also saw unprecedented applications of about 40–50 new FPI registrations, which are eyeing to enter the Indian market. This was due to markets SEBIs recent relaxation to NRIs, permitting them to participate up to 100% and announcing measures for ease of entry and operations in India. On the other hand, FPIs invested Rs 599 crore in the debt general limit and Rs 2,896 crore in the debt voluntary retention route (VRR) during the period under review. So far this year, FPIs have invested Rs 1.06 lakh crore in the debt market. <li class="whitespace-normal break-words"></li>Going ahead, investors will be looking for certain macroeconomic cues, which include corporate earnings reports, India's inflation (CPI) and industrial production (IIP) data on November 12, the US inflation report on November 13, and wholesale price index (WPI) data on November 14.

FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

In a recent notification, the <keyword id="20004725" type="General" weightage="100" keywordseo="NSE" source="keywords">NSE</keyword> (National Stock Exchange) noted that markets will remain closed on Wednesday, November 20, 2024, on account of state elections taking place in Maharashtra. However, <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> has issued no notification on this matter so far. However, given how both the exchanges largely operate in sync, BSE is likely to declare a holiday as well. Before the elections, both BSE and NSE will be shut for trading on November 15 as well, on account of <keyword id="23718443" type="General" weightage="20" keywordseo="Guru-Nanak-Jayanti" source="keywords">Guru Nanak Jayanti</keyword>. Next month, the bourses will remain closed for regular trade on Christmas, i.e., December 25. Earlier this week, Brihanmumbai Municipal Corporation (BMC) mandated that all businesses and workplaces in Mumbai should grant paid leave on November 20, 2024, to all its employees so that they can participate in state elections. Failure to do so could mean penalties for employers. All the 288 states in the Maharashtra state assembly are set to go to polls in a single phase on November 20. <h2>Markets close the week on muted note </h2>Both Nifty and Sensex closed the week on a damp note, with Nifty dipping 0.21% to close at 24,148.20 points. On the other hand, Sensex also slipped below the 80,000 mark to close the week at 79,486.32 points. Of the 50 stocks that constitute Nifty, 23 stocks advanced during the day, while 27 saw declines. However, this week has not been all that bad for the markets, with Nifty rising 0.31% and Sensex inching up 0.65% during the last 5 days. All broad market indices fell during today's trade, with smallcaps falling by over 1.5%, while midcaps also closed the day over 1% down. As for sectoral indices, most of them ended the week in reds, with realty and media losing over 2% during trading today. Pharmaceuticals, healthcare, and consumer durables recorded marginal upticks during the day, inching up by 0.07%, 0.22%, and 0.41%, respectively. FIIs (<keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword>) continued their selling spree today as well. In this month so far, FIIs have been net cash sellers, offloading around Rs 16,445.49 crore. DIIs (domestic institutional investors) have stepped in to maintain some balance by becoming net buyers worth Rs 12,265.74 crore in November till date. Shrikant Chouhan, Head Equity Research, Kotak Securities, explains that global market sentiment saw sharp volatility in the aftermath of Republicans winning all three branches of the US government, resulting in rising US bond yields and the dollar, as well as the US equity markets beating most EMs. Meanwhile, the Q2 FY25 earnings season continued to remain weak, with more misses than hits observed. <keyword id="20993056" type="General" weightage="20" keywordseo="FPI-flows" source="keywords">FPI flows</keyword> are expected to remain volatile for some time to come. Amidst emerging markets, only Brazil saw inflows worth $115 million between November 1 and 7, 2024.

Markets to remain shut on November 20 due to Maharashtra elections

New Delhi: <keyword id="19900795" type="General" weightage="20" keywordseo="foreign-investors" source="keywords">Foreign investors</keyword> pulled out a massive Rs 94,000 crore (around USD 11.2 billion) from the Indian <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword> in October, making it the worst-ever month in terms of outflows, triggered by the elevated valuation of domestic equities and attractive valuations of <keyword id="20295104" type="General" weightage="20" keywordseo="Chinese-stocks" source="keywords">Chinese stocks</keyword>. Before this, foreign portfolio investors (FPIs) withdrew Rs 61,973 crore from equities in March 2020. The latest outflow came after a nine-month high investment of Rs 57,724 crore in September 2024. Since June, FPIs have consistently bought equities after withdrawing Rs 34,252 crore in April-May. Overall, FPIs have been net buyers in 2024, except for January, April and May, data with the depositories showed. Looking ahead, the trajectory of global events like geopolitical developments, interest rate movements, progress in the Chinese economy and the outcome of the US Presidential election will play a crucial role in shaping future foreign investment in <keyword id="20014814" type="General" weightage="20" keywordseo="Indian-equities" source="keywords">Indian equities</keyword>, Himanshu Srivastava, Associate Director, Manager Research, Morningstar Investment Research India, said. On the domestic front, key indicators like inflation trajectory, corporate earnings, and the impact of festive season demand will also be closely watched by FPIs as they assess opportunities in the Indian market, he added. According to the data, FPIs recorded a net outflow of Rs 94,017 crore in October. The intensity of net outflows could be gauged from the fact that except for one day, FPIs were net sellers throughout the month, bringing their total investment for 2024 down to Rs 6,593 crore. This relentless selling resulted in about an 8 per cent decline in benchmark indices from their peaks. Several factors contributed towards this massive withdrawal of foreign capital from the Indian equity markets in October. The major among them is the elevated valuations of Indian equities. This has triggered a shift in investments towards China, where valuations are currently more attractive. Additionally, a series of stimulus measures, aimed at bolstering Chinese economic growth has made Chinese equities increasingly appealing to global investors, Srivastava said. Despite the massive FPI selling in financials, this sector is resilient since the valuations are fair and every selling is being absorbed by DIIs and individual investors, particularly HNIs, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. In addition, FPIs pulled out Rs 4,406 crore from the debt general limit and invested Rs 100 crore from the debt Voluntary Retention Route (VRR) during the period under review. So far this year, FPIs invested Rs 1.06 lakh crore in the debt market.

FPIs withdraw record Rs 94,000 cr from Indian equities in Oct on attractive Chinese valuations

The foreign portfolio investors have infused Rs 15,420 crore so far this week in the Indian <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword>, according to the data from the <keyword id="20294652" type="General" weightage="20" keywordseo="National-Securities-Depository" source="keywords" meta.keywordsubtype="org" meta.entityname="National Securities Depository" meta.hostid="261" meta.entityid="National Securities Depository">National Securities Depository</keyword>. The net investment by the foreign portfolio investors (<keyword id="19979726" type="General" weightage="20" keywordseo="FPI" source="keywords">FPI</keyword>) surged to Rs 30,772 crore so far in July indicating the good buying by the <keyword id="19900795" type="General" weightage="100" keywordseo="foreign-investors" source="keywords">foreign investors</keyword> in the <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>. The foreign investors have so far bought equities worth of Rs 1,30,138 crore this year. "FPI flows are expected to remain volatile this week. The markets were strong, led by strong earnings and commentary from the large-cap. This week, the markets of India, Brazil, Indonesia, Malaysia, Philippines, and South Korea witnessed inflows, while the markets of Taiwan, Thailand and Vietnam witnessed outflows" said Shrikant Chouhan, Head of Equity Research, Kotak Securities. Internationally the foreign investors this week have injected around $585 million in Brazil, $300 million in Indonesia, $324 million in Malaysia and $2,085 million in South Korea. On the other hand, Taiwan witnessed an outflow of $5325 million and Vietnam witnessed a selling of $278 million of foreign investment this week. According to market experts, foreign investors are investing in Indian markets amid a weakening in <keyword id="22484170" type="General" weightage="20" keywordseo="dollar-and-bond-yields" source="keywords">dollar and bond yields</keyword>, and if this trend continues, foreign investment will continue as well. "During the fortnight ending 15th July, FPIs were buyers in autos, capital goods, healthcare, IT, telecom, and oil and gas. A notable trend was the lack of buying in <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which partly explains the poor performance of financial services in July so far. If the recent trend of weakness in dollar and bond yields persists, FPIs are likely to continue their buying in the market," said V K Vijayakumar, Chief Investment Strategist, at Geojit Financial Services. Foreign Institutional investors were sellers in January, April, and May, cumulatively selling equities worth around Rs 60,000 crores. However, they were buyers in February, March, and June, with cumulative purchases amounting to Rs 63,200 crores.

Foreign investors infuse Rs 15,420 crore in Indian markets this week

New Delhi [India], March 18 (ANI): Indian stock market indices extended their losses from the previous week, though marginally, tracking weak US market cues and concerns of over-heating in small and midcaps space. At 9.19 am, soon after the opening bell, Sensex was at 72,585.93, down 57.50 points or 0.079 per cent, <keyword id="19896381" type="General" weightage="20" keywordseo="nifty" source="keywords">Nifty</keyword> was at 21,991.85 points, down 31.50 points or 0.14 per cent. Among the widely tracked Nifty 50 stocks, 21 advanced and the rest 29 declined at the time of filing this report. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s benchmark stock indices snapped a four-week rally and recorded their worst fall in over four months on Friday. Going ahead into this week, monetary policy outcomes of five central bank, <keyword id="19904332" type="General" weightage="20" keywordseo="federal-reserve" source="keywords">Federal Reserve</keyword>, the Bank of Japan (BOJ), the Reserve Bank of Australia (RBA), the Swiss National Bank (SNB), and the Bank of England (BOE) will be closely watched. Investors and traders will get some fresh clues on the future glide path of interest rates in these major economies. "The March Federal Open Market Committee (FOMC) meeting will play a key role in guiding market rates expectations after US equities indices climbed despite higher-than-expected consumer price index (CPI) readings for February," said S&amp;P Global Market Intelligence. In specific, markets will closely watch <keyword id="19900043" type="General" weightage="20" keywordseo="fed" source="keywords">Fed</keyword> Chair <keyword id="20058769" type="General" weightage="20" keywordseo="jerome-powell" source="keywords">Jerome Powell</keyword>'s comments on rate cuts and the US economy's health amid growing concerns of a rebound in inflation. The US Federal Reserve in its January meeting voted to leave the key interest rate unchanged at 5.25-5.50 per cent, keeping the policy rate unchanged for the fourth straight time on a trot. "Bears may seize control following a weak lead from Wall Street in Friday's trading session, potentially triggering volatility in Nifty as bullish traders scale back amidst anticipation of an impending Fed rate cut. With the Federal Reserve's decision looming on Wednesday, March 20th, market volatility is expected to intensify," said <keyword id="20226500" type="General" weightage="20" keywordseo="prashanth-tapse" source="keywords">Prashanth Tapse</keyword>, Senior VP (Research), Mehta Equities Ltd. That said, foreign portfolio investors continue to remain net buyers in India. Foreign portfolio investors who had aggressively sold Indian stocks and turned net sellers in the Indian equity market in January 2024 became net buyers in February and March. This has also likely buoyed the stocks of late. So far in March, they bought stocks in India worth Rs 40,710 crore, the latest data from the National Securities Depository Limited (NSDL) showed. "The trend of rising foreign portfolio investment in India witnessed in the first week of March continued in the second week, too. <keyword id="19979726" type="General" weightage="20" keywordseo="fpi" source="keywords">FPI</keyword>s were big sellers in January and modest buyers in February. But in March they have turned big buyers having bought equity worth Rs 35,665 crores through 15th March (Source: NSDL). But this figure includes some bulk deals executed through the stock exchanges and, therefore, is not a true indicator of FPI activity. However, the rising trend of FPI investment continues," said <keyword id="20683264" type="General" weightage="20" keywordseo="vk-vijayakumar" source="keywords">VK Vijayakumar</keyword>, Chief Investment Strategist, Geojit Financial Services. (ANI)

India stock indices extend losses from past week

<ul><li>FPIs have turned buyers in November and are ₹107.81 crore in the green post Diwali.</li><li>FPIs had offloaded equities worth ₹5,806 crore before Diwali.</li><li>There was an investment of ₹5,328.1 crore a day after Diwali.</li></ul> The Diwali cheer has continued on Dalal Street with the foreign portfolio investors (FPIs) having turned net buyers in November after making huge purchases after Diwali that fell on November 12, 2023. The FPIs had been net sellers in the first half of the month, having offloaded equities worth ₹1,416 crore till November 15. However, the trend has changed after FPIs invested a huge amount of ₹5,328 crore in a single day on November 13, followed by ₹1,523 crore on November 16. The month of October had recorded the highest sell-off in equities by FPIs in the financial year at ₹24,548 crore. If we look at 2023, this was the second highest sell-off after January 2023 which recorded FPIs offloading equities worth ₹28,852 crore. FPIs had also offloaded equities worth ₹14,768 crore in September 2023, ending a six-month streak of inflows in 2023. May 2023 had recorded the highest inflows in FY24 at ₹43,838 crore. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ in crore </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net $ mn </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">April </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,631 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1420 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">May </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">43,838 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5335 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">June </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">47,148 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5737 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">July </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">45,365 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5526 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">August </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,262 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1480 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">September </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-14,768 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1776 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">October </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-24,548 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2950 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">November* </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">107.81 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.78 </td></tr></tbody></table> Source: NSDL, *November data as on November 16. While there could be a lot of reasons for FPIs offloading, the sell-off had increased after the yield on the 10-year US Treasuries topped 5% for the first time since 2007. In addition to this, the geopolitical conflict in the middle east has also fueled the sell-off. The banking and financial services and the information technology (IT) sector recorded a substantial sell-off. Despite the sell-off in the last three months, the net investment in FY24 has been positive. FPIs have invested ₹1,16,586 crore in the country so far. Analysts expect the sell-off to ease down as the yields soften and the Fed goes on hold for a longer period. 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After two months of selling, FPIs bet big on India after Diwali

<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> has been ranked 35th on a global index of countries best placed for leveraging <keyword id="20196166" type="General" weightage="20" keywordseo="future-possibilities" source="keywords">future possibilities</keyword> while the <keyword id="6354868" type="General" weightage="20" keywordseo="uk" source="Orion">UK</keyword> topped the list released here on Monday. The <keyword id="20196167" type="General" weightage="20" keywordseo="future-possibilities-index" source="Orion">Future Possibilities Index</keyword> (<keyword id="19979726" type="General" weightage="20" keywordseo="fpi" source="keywords">FPI</keyword>), a flagship global future trends study released by Newsweek Vantage and <keyword id="20196165" type="General" weightage="20" keywordseo="horizon-group" source="keywords">Horizon Group</keyword> on sidelines of the World Economic Forum Annual Meeting, has Denmark, the US, the Netherlands and Germany in the top five after the UK. Among large emerging markets, <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword> is placed highest at 19th this year, followed by <keyword id="6355226" type="General" weightage="20" keywordseo="brazil" source="Orion">Brazil</keyword> at 30th, India (35th) and South Africa (50th). The study compared the factors that will help governments, investors and other private sector stakeholders leverage six global, transformational trends for growth and wellbeing across 70 countries. These six global transformational trends are Exabyte Economy (advanced digital technologies), Wellbeing Economy (health prevention and wellness), Net Zero Economy (reduction of carbon emissions), <keyword id="19997312" type="General" weightage="20" keywordseo="circular-economy" source="keywords">Circular Economy</keyword> (recycling and reuse), BioGrowth Economy (food and agriculture innovations), and Experience Economy (consumption of experiences instead of physical goods). The combined business opportunity of all six trends is estimated at more than USD 44 trillion by 2030, more than 40 per cent of global GDP in 2023, the study said. The study used data from recognised international organizations as well as a survey of 5,000 business executives conducted for the project by <keyword id="20196164" type="General" weightage="20" keywordseo="phronesis-partners" source="keywords">Phronesis Partners</keyword>. These opportunities are likely to benefit the Global North more than the Global South in terms of economic growth and broader societal wellbeing and a strong industry base is needed to benefit, the report found. The international development community must help developing countries take full advantage of these opportunities by strengthening related industries, it added.

India ranked 35th for leveraging future possibilities; UK on top

<ul><li>Sell-off by FPIs has been triggered by the underperformance of preferred stocks and outperformance in their least preferred sectors.</li><li>Drop in <keyword id="10995552" type="General" weightage="20" keywordseo="fpi-ownership" source="Orion">FPI ownership</keyword> comes as a surprise to analysts considering fundamentals of the Indian economy have never been better.</li><li>Despite the selloff since September, calendar 2023 sees net inflows of $12 billion n by foreign portfolio investors. </li></ul>As legendary investor Benjamin Graham often said, Mr Market constantly buys or sells a stock based on emotion and not on sound investing principles. Not surprising it is hard to make sense of the market and its gyrations. Even as India’s macro fundamentals are growing stronger each passing year, holdings of foreign portfolio investors have plumbed to their lowest level in a decade at 16.6%. What has contributed to the sell-off by FPIs is the underperformance of their preferred stocks and outperformance of stocks which they least preferred. In calendar 2023, small and midcap stocks have rallied by over 40% but the large caps have not done much. This is also a big reason for the selloff by FPIs. As US Treasury yields breached 4% levels, foreign investors began selling down India yet again from September 2023. This has resulted in their equity holdings reaching their lowest level in a decade. According to ICICI Securities, a leading domestic financial institution, this is a surprise, considering the favorable fundamentals of the Indian economy. The recent sell-off by FPIs has been driven by the decisive breakout of US bond yields above 3.5-4% post-September 2023. This spooked capital markets, despite the US Federal Reserve approaching the end of its rate hike cycle due to a moderating inflation outlook. The portfolio orientation of FPIs has also contributed to the drop in their equity holdings, with underperformance in their overweight position in high-quality, relatively expensive financial stocks and outperformance in their underweight position in industrials. Says ICICI Securities, “Data on aggregate sectoral institutional flows available during October 2023 indicates FPIs bought more of industrials while large selling was observed in financials. Also, quarterly corporate filing data on shareholding pattern indicates an uptick in small and midcap holdings and a dip in large cap holdings.” However, it is important to note that despite the recent sell-off, the overall FPI inflow for the year 2023 remains robust at $12 billion. This indicates that foreign investors still have confidence in the Indian market. India stands out compared to all other emerging markets, where FPIs have remained net sellers or have bought only marginally. Additionally, domestic institutional investors (DIIs) have been actively investing in Indian equities, with overall domestic institutional flows reaching $20 billion in 2023 so far. Mutual funds have been particularly active, with net inflows of $17 billion. The aggregate holdings of FPIs currently stand at ₹54.5 trillion, representing 16.6% of the overall Indian equities as of November 2023. This is the lowest level since 2012. The drop in FPI holdings can be attributed to the sharp selling seen since September 2023, as well as the underperformance of their portfolio orientation. Recent activity by FPIs suggests a recalibration of their portfolio orientation. Data on aggregate sectoral institutional flows in October 2023 indicates that FPIs have been buying more industrials while selling off financial stocks. Additionally, quarterly corporate filing data on shareholding patterns shows an increase in small and midcap holdings and a decrease in large-cap holdings. On the other hand, domestic mutual funds continue to show buying interest across sectors, particularly in healthcare, private banks, other financial services, and industrials. However, selling was observed in PSU banks during October 2023. This indicates that domestic investors have a more optimistic outlook on certain sectors of the Indian market. Despite the volatility in the market, systematic investment plan (SIP) inflows have been steadily rising and have reached over $2 billion per month. This structural increase in SIP inflows demonstrates the long-term confidence of retail investors in the Indian equities market. In conclusion, the recent drop in FPI equity holdings in Indian stocks to a decade low is ironic considering the favorable fundamentals of the Indian economy. However, the robust overall FPI inflow for 2023 and the potential for a reversal in FPI holdings as yield spike fears recede and valuations become more reasonable provide hope for the Indian equities market. It is important to monitor the election-related uncertainty, which could add volatility to near-term flows.

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FPIs withdraw nearly Rs 20,000 crore from equities in the last 5 trading sessions, make a beeline for China and US

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India ranked 35th for leveraging future possibilities; UK on top

PTI

FPI ownership of Indian equities drops to a decadal low of 16.6% in 2023, selloff triggered by portfolio underperformance & spike in US bond yields

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