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Foreign investors have withdrawn nearly Rs 20,000 crore from Indian stock markets in just five trading days (November 4–8), continuing a trend of large-scale selling that began last month.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

Foreign Institutional Investors (FIIs) have been rapidly exiting Indian markets, and this high-speed exodus does not look like it will stop anytime soon. In October 2024, FIIs withdrew Rs 1,14,445.89 crores from Indian markets. Yesterday, FIIs withdrew $770.67 million from the markets, with equity outflows of $440.86 million and debt outflows standing at $327.44 million across various categories. Per NSDL data, hybrid outflows amounted to $2.31 million. While this may sound dissuading at first, a recent SBI report underlined that FIIs still hold a massive $ 18.241 billion in Indian markets. So far, FY25 has seen FII inflows worth $ 8.924 billion. However, the situation may quickly turn alarming as well, given that FII holdings in Indian equities have already come down to a 12-year low. Says Anirudh Garg, Partner and Fund Manager at Invasset PMS, "The current valuation of Indian stocks, trading at around 24 times expected earnings, appears high compared to Chinese stocks, which are at approximately 10 times. Economic concerns, including weak corporate earnings and declining consumer demand, further exacerbate this situation. Additionally, renewed fears of inflation and potential monetary tightening by central banks have led FIIs to withdraw from the Indian market." In the meantime, DIIs (domestic institutional investors) are stepping in big time. During October 2024, DIIs infused Rs 1,07,254.68 crore in Indian markets. In November so far, DIIs have been keeping the fund momentum going, infusing Rs 12,265.74 crore in India, while FIIs have offloaded Rs 16,445.49 crore this month. But despite this strong uptick, SBI's recent report suggests that consumer confidence in India remains below 100, signaling muted positivity and optimism in the economy. While household consumption is gradually recovering, it grew at 4% last year, much below the 7% levels recorded pre-pandemic. <h2>FII share in <keyword id="20868945" type="General" weightage="20" keywordseo="NSE-listed-companies" source="keywords">NSE-listed companies</keyword> takes a dip, DII stake rise </h2>FIIs share in NSE-listed companies stood at 15.98% in October, with assets under their custody in the equity segment coming to Rs 71.08 lakh crore last month. In September, this stood at Rs 77.96 crore. Experts suggest that this is likely to continue for some time to come. Mutual funds, on the other hand, saw their share in NSE-listed companies hit a record high of 9.58%, as opposed to their 9.32% stake in September 2024. FIIs turned net sellers in the debt segment as well in October, dumping $771 million in Indian markets. This comes after 2 consecutive months of healthy inflows in this segment in August and September 2024, where the figures stood at $2,806 million and $2,295 million, respectively.

FII stake in Indian equities dips to a 12-year low

About 2.1 per cent or Rs 7,581 crore of the withdrawn Rs 2,000 <keyword id="20481528" type="General" weightage="20" keywordseo="banknotes" source="keywords">banknotes</keyword> have not yet been returned to the <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>, about nine months after the deadline to deposit or exchange them at bank branches was over. This essentially means 97.87 per cent of the total value of the high-value Rs 2,000 banknotes are back in the banking system by the end of June 2024, the Reserve Bank of India said in a statement on Monday. The total value of Rs 2000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, the date on which RBI decided to withdraw the banknote. The last day for the public to avail of exchange or to deposit high-value Rs 2000 banknotes at the banks was October 7, 2023. However, the window for depositing and/or exchanging the Rs 2,000 banknotes continues to be available at the 19 issue offices of the RBI. Those 19 RBI issue offices are in Ahmedabad, Bangalore, Belapur, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, and Thiruvananthapuram. People from within the country can send Rs 2,000 banknotes through India Post from any post office to any of RBI Issue Offices for credit to their bank accounts in India. The Rs 2000 banknotes continue to be legal tender. The Rs 2000 banknote was introduced in November 2016, primarily to meet the currency requirements of the economy expeditiously after the <keyword id="19901049" type="General" weightage="20" keywordseo="withdrawal" source="keywords">withdrawal</keyword> of the legal tender status of all Rs 500 and Rs 1000 banknotes in circulation at that time. The objective of introducing Rs 2000 banknotes was met once banknotes in other denominations became available in adequate quantities. Therefore, the printing of Rs 2000 banknotes was stopped in 2018-19. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

2.1% of ₹2,000 banknotes, with value of ₹7,581 crore, still to be returned

<ul><li>The last <keyword id="30067" type="General" weightage="40" keywordseo="rbi" source="Orion">RBI</keyword> update says that 93% of the ₹2,000 notes are back with the central bank.</li><li>The ₹2,000 notes were first introduced during the <keyword id="3315394" type="General" weightage="50" keywordseo="demonetisation" source="Orion">demonetisation</keyword> exercise.</li><li>The deadline to deposit the notes is on September 30, 2023.</li></ul> With a couple of weeks to go before the deadline to deposit ₹2,000 banknotes, e-commerce giant Amazon has said that it has discontinued accepting them. Till now, many retailers along with e-commerce players, petrol pumps and even jewellers had generously started accepting these notes after RBI withdrew them in May, without banning them. However, with the festive season upon us, fewer and fewer retailers will be accepting the mega note at shops and stores and most people with residual notes will have to hit banking channels to deposit them. As of now, 93% of these notes accounting to ₹3.32 lakh crore are back with banks, said the latest RBI update on it, released in early September. “Consequently, the value of ₹2,000 banknotes in circulation as at the close of business on August 31, 2023 stood at ₹24,000 crore,” read RBI’s statement. Most of these notes had ended up with banks, which made the banking regulator come up with a temporary measure to mop up excess liquidity from the banks in its August 10 credit policy meeting update. The RBI said that scheduled banks shall maintain an incremental cash reserve ratio (I-CRR) of 10%. The new measure had come into effect the fortnight starting August 12, and the RBI has already decided to <a href="https://www.newindianexpress.com/business/2023/sep/09/rbi-to-withdraw-incremental-crr-in-phases-by-october-7-2613205.html">withdraw ICRR in a phased manner</a>. The RBI first introduced the 2000 rupee note as part of the demonetisation exercise on November 8, 2016. Currently, this is the highest currency note in circulation. The note was introduced as the ₹500 and ₹1,000 notes were withdrawn from the system to boost currency circulation. Now, with the circulation problem a thing of the past, the note has been withdrawn. Some history of updates 2017: The Indian central bank added a new security feature -- a fluorescent strip that glows green under ultraviolet light. 2018: RBI changed the design of the note with a portrait of Mahatma Gandhi on the front and a map of India on the back. 2019: Another security feature was added: a tactile strip that can be felt by people with visual impairments.

As the deposit deadline approaches, ₹2,000 notes fade from the system

<ul class="summary-list"><li>Former Maryland Gov. Larry Hogan is pulling out of two Harvard University fellowship programs.</li><li>Hogan said this was in response to "dangerous anti-Semitism" that had "taken root" on its campus.</li></ul>Former Maryland Governor Larry Hogan is the latest prominent figures to cut ties with Harvard, saying he's withdrawing from the university's fellowship programs over what he claims is "dangerous anti-Semitism" on campus.In a <a target="_blank" href="https://twitter.com/GovLarryHogan/status/1716487071244713989/photo/1">letter</a> to the university's leadership on Monday explaining his decision, Hogan referred to a <a target="_blank" href="https://www.businessinsider.com/harvard-university-israel-hamas-what-happened-students-palestine-2023-10">statement originally signed by more than 30 Harvard student organizations</a> saying that they held Israel "entirely responsible" for the outbreak of violence in the Middle East following Hamas' terrorist attacks on Israel.Hogan's letter was addressed to Claudine Gay, the university's president, who has been heavily criticized over Harvard's response to the student groups' statement."While these students have a right to free speech, they do not have a right to have hate speech go unchallenged by your institution," Hogan wrote. "Harvard's failure to immediately and forcefully denounce the anti-Semitic vitriol from these students is in my opinion a moral stain on the University."Hogan was due to start fellowships at Harvard's Kennedy School of Politics and the Chan School of Public Health."Unfortunately, this letter is to officially inform you that I must regretfully withdraw my offer to participate in this engagement," he wrote to Gay. "I cannot condone the dangerous anti-Semitism that has taken root on your campus, especially by more than 30 Harvard student organizations attempting to justify and celebrate Hamas' terrorism against innocent Israeli and American civilians.""This is not a decision I have taken lightly, but it is my hope that it may help further spur you to take meaningful action to address anti-Semitism and restore the values Harvard should represent to the world," Hogan continued.Hogan had been <a target="_blank" href="https://cpl.hks.harvard.edu/news/announcing-fall-2023-hauser-leaders">appointed</a> to serve as a Hauser Leader at Harvard Kennedy School in the fall semester, a position which involves advising students, speaking in classrooms, engaging in research, talking to key external stakeholders, and sharing expertise with faculty. His role was described as a leadership advisor to the program, and his term was set to coincide with that of former New Zealand Prime Minister Jacinda Ardern.Insider understands that Hogan was going to visit the Harvard Kennedy School in November in his role as an advisor.Hogan was removed from the Hauser Leaders Program <a target="_blank" href="https://cpl.hks.harvard.edu/hauser-leaders-program">webpage</a> on Tuesday morning.Hogan was also initially set to serve as a fellow at the Chan School of Public Health but because of his limited availability he was instead scheduled to livestream a Q&amp;A from campus and hold some private meetings and round-table conversations with students and faculty, Insider understands.Hogan, a Republican, served two terms as Maryland governor from 2015 to 2023.Insider contacted Harvard for comment on whether it will replace Hogan and for a response to his statement. The request was sent outside regular working hours.<h2>Lawmakers, donors, and students have criticized Harvard's response</h2>The collection of student organizations quickly faced backlash after they released their statement on October 8 blaming Israel for the attacks by Hamas. Business leaders including hedge-fund manager <a target="_blank" href="https://www.businessinsider.com/bill-ackman-harvard-release-names-students-blaming-israel-violence-hamas-2023-10">Bill Ackman</a> have asked for a list of the names of the organizatons' members so that they can avoid hiring them. Students said to be associated with the statement have also been the victim of <a target="_blank" href="https://www.businessinsider.com/harvard-student-letter-truck-on-campus-pictures-names-hamas-2023-10">doxxing attacks</a>.The university itself has also faced immense backlash. Some students, lawmakers from both sides, wealthy donors, and alumni say that Harvard hasn't done enough to condemn Hamas' attacks on Israel and to denounce the students involved in the statement.Israeli billionaires <a target="_blank" href="https://www.businessinsider.com/israeli-billionaire-harvard-kennedy-board-hamas-attacks-israel-palestine-gaza-2023-10">Idan and Batia Ofer</a> stepped down from their positions on the executive board of the Harvard Kennedy School, while billionaire retailer <a target="_blank" rel="" href="https://www.businessinsider.com/wexner-foundation-pulls-funding-from-harvard-over-stance-israel-hamas-attacks-2023-10">Les Wexner's</a> Jewish leadership philanthropy organization, the Wexner Foundation, cut funding from the school.Gay, the university's president, has made multiple statements condemning Hamas' violence and has stressed that the student groups don't speak for Harvard or its leadership. But in a <a target="_blank" href="https://www.harvard.edu/president/news/2023/our-choices/">video</a> released on October 12, she said that the university also rejects harassment and intimidation based on people's beliefs and that its commitment to free expression includes "views that many of us find objectionable, even outrageous.""We do not punish or sanction people for expressing such views," Gay said. "But that is a far cry from endorsing them."The Harvard Undergraduate Palestine Solidarity Committee, which penned the original student-group statement, previously said in an update that it "staunchly opposes all violence against all innocent life and laments all human suffering.""We reject that Palestinian solidarity groups are always expected to preempt their statements with condemnation of violence while overlooking the structures that produce said violence," the PSC added.

Harvard takes another blow over Israel as ex-Maryland governor withdraws from  a pair of fellowships citing 'dangerous antisemitism'

<ul><li>Foreign institutional investors have pulled out nearly $7 billion from the Indian markets this year.</li><li>FIIs have been net buyers in only one month this financial year – September.</li><li>Nearly $13 billion worth of shares have been sold by FIIs so far, as opposed to inflows worth over $13 billion in the period last year.</li></ul>Foreign institutional investors (FIIs) have offloaded nearly $7 billion worth of shares in the last two months and since the beginning of the financial year, FIIs have sold nearly $13 billion worth of shares. During the financial year, only September has witnessed net buying from FIIs, that too only to the extent of $62 million. This comes at a time when the Nifty 50 index has gained nearly 20% since April. “Part of the reason FIIs are selling is because valuations are not cheap and the inflation risk is real in India while the Reserve Bank of India, which historically was one of the more vigilant central banks, right now seems to be more on the dovish side," said Arvind Sanger, managing partner, Geosphere Capital Management to <a href="https://economictimes.indiatimes.com/markets/expert-view/why-have-fiis-turned-big-sellers-in-the-indian-market-arvind-sanger-answers/articleshow/87904160.cms">Economic Times</a>. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Month (2021) </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Amount ($ billion) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">April </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-1.70 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">May </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.81 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.003 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">July </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.10 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">August </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-0.34 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">September </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.06 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">October </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.42 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">November </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-3.39 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-12.70 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: NSE, as on November 26, 2021 During the financial year, the last two months have recorded nearly $7 billion worth of selling and November is on track to be the month with the highest selling. <div type="image" title="FIIs - 2020-21 vs 2021-22" msid="87927349" hostid="261" caption="&amp;lt;p&amp;gt;FII activity compared to last financial year.&amp;lt;/p&amp;gt;"></div> Some of the reasons for the pull out by FIIs include concerns around COVID-19, the inflation risk and US Federal Reserve’s plans to reduce the stimulus. If we look at some of the companies that have high <keyword id="46756" type="General" weightage="20" keywordseo="fii" source="Orion">FII</keyword> holdings, there has been a substantial withdrawal in the financial year, even without looking at the last two months. The following data does not factor in the heavy selling that has taken place in October and November. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FII holding as on March 31, 2021 </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FII holding as on September 31, 2021 </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Decline </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram Transport Finance Corporations </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">61% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53.70% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.30% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ZEE Entertainment Enterprises Ltd </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64.20% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">57.20% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7.00% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fortis Healthcare </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.40% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">29.30% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manappuram Finance </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.60% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.90% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.70% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">54.50% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.50% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.00% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Redington India </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42% </td><td style="border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td><td style="border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.00% </td></tr></tbody><tbody></tbody></table> Note: Data till September 2021 Morgan Stanley last month <a href="https://www.cnbctv18.com/economy/morgan-stanley-downgrades-india-to-equal-weight-from-overweight-citing-expensive-valuations-11263672.htm">downgraded</a> Indian equities to equal-weight from overweight citing expensive valuations. "We move tactically equal weight on India equities after strong relative gains - we expect a structural multi-year earnings recovery, but at 24 times forward price to earnings, we look for some consolidation ahead of Fed tapering, an RBI (rate) hike in February and higher energy costs," the investment banking company said. Similarly, Goldman Sachs downgraded the Indian market from overweight, stating that the recovery has already been priced in. “While we expect strong cyclical and profit recovery next year and remain medium-term constructive amid increasing digitalisation in the index, we think the recovery is well priced at current peak valuations. We, thus, take profits on our India overweight and lower it to market weight within our regional allocations,” it <a href="https://economictimes.indiatimes.com/markets/stocks/news/goldman-sachs-downgrades-india-equities-says-stocks-appear-well-priced-for-now/articleshow/87660109.cms">said</a>. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/global-investment-banks-are-telling-their-clients-to-take-profits-from-india/articleshow/87667322.cms">Small investors ahoy! Global investment banks are telling their clients to take profits from India</a> <a href="https://www.businessinsider.in/stock-market/markets/news/tata-motors-maruti-and-hdfc-are-among-the-top-losers-as-fear-of-the-new-covid-variant/articleshow/87923451.cms">Biggies like Tata Motors, Maruti, and HDFC are among top losers as fear of new COVID variant takes the wind out of Indian stocks</a> <a href="https://www.businessinsider.in/stock-market/news/pvr-inox-mainland-china-barbeque-nations-share-price-falls-due-to-new-covid-19-variant/articleshow/87925164.cms">Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant</a>

Foreign investors have pulled out nearly $7 billion in the last two months, and over $12 billion since April this year

<ul><li>RBI announced the withdrawal of ₹2,000 currency notes from circulation on Friday.</li><li>People possessing these notes can deposit them in their bank accounts or exchange them from May 23 to September 30.</li><li>The RBI has also advised banks to stop issuing ₹2,000 denomination banknotes with immediate effect. </li></ul>The Reserve Bank of India (RBI) on Friday announced the withdrawal of ₹2,000 currency notes from circulation, but said that they will continue to be legal tender. People possessing these notes can deposit them in their bank accounts or get them exchanged from May 23 to September 30, the central bank said in a statement. “In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of ₹2000 banknotes into banknotes of other denominations can be made upto a limit of ₹20,000/- at a time at any bank starting from May 23, 2023,” the statement said. The RBI has also advised banks to stop issuing ₹2,000 denomination banknotes with immediate effect. About 89% of the ₹2,000 denomination banknotes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. The total value of these banknotes in circulation has declined from ₹6.73 lakh crore at its peak as on March 31, 2018 (37.3% of notes in circulation) to ₹3.62 lakh crore constituting only 10.8% of notes in circulation as on March 31, 2023. “It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continues to be adequate to meet the currency requirement of the public. In view of the above, and in pursuance of the ‘Clean Note Policy’ of the RBI, it has been decided to withdraw the ₹2,000 denomination banknotes from circulation,” RBI said. The facility for exchange of ₹2,000 banknotes upto the limit of ₹20,000/- at a time shall also be provided at the 19 Regional Offices (ROs) of RBI having Issue Departments from May 23, 2023. "As witnessed during demonetisation, we expect the deposit accretion of banks could improve marginally in near term. This will ease the pressure on deposit rates hikes and could also result in moderation in short-term interest rates," said Karthik Srinivasan, senior VP, group head - financial sector ratings, ICRA. It may be noted that RBI had undertaken a similar withdrawal of notes from circulation in 2013-2014. The ₹2,000 notes were introduced in 2017, after the government of India went in for <keyword id="6362150" type="General" weightage="20" keywordseo="demonetization" source="Orion">demonetization</keyword> of ₹500 and ₹1,000 notes in November 2016. Prime Minister Narendra Modi announced this decision in a surprise speech that shocked the nation. He said that the move would curtail the shadow economy and encourage cashless transactions.

RBI to withdraw ₹2,000 currency notes from circulation, will continue to be legal tender

<ul><li>As much as ₹3.62 lakh crore of bank notes exist in the form of ₹2,000 currency notes, says <keyword id="30067" type="General" weightage="20" keywordseo="RBI" source="Orion">RBI</keyword>.</li><li>Of this, as much as ₹1.5-2 lakh crore is expected to make its way to banks as it’s being taken off circulation.</li><li>Since ₹2,000 currency note is still legal tender, a few people might even invest in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword>, gold, consumer durables and more, say analysts.</li></ul>Indian central bank’s move to withdraw ₹2,000 currency notes from circulation, will help banks, say analysts as it will aid deposit growth and improve system liquidity. The Reserve Bank of India (RBI) on Friday said that it intends to pull ₹2,000 banknotes from circulation, and gave people four months to either exchange or deposit them at banks. “Bank Nifty is likely to gain more traction since the ₹2,000 note withdrawal is positive for banks. It will add to the deposits of banks and increase their CASA thereby boosting their bottom line,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. C<a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/fy23-loan-growth-at-11-year-high-despite-steep-hike-in-lending-rates/articleshow/99359415.cms">redit growth has been outpacing deposit </a>growth for many quarters now. In FY23, outstanding deposit growth stood at 9.6% while outstanding credit growth stood at 14.6%. In these times, a flood of deposits will help banks. How much can come from ₹2,000 notes The ₹2,000 notes were introduced in 2017, after the Government of India went in for demonetization of ₹500 and ₹1,000 notes in November 2016. These notes have <a href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">served their purpose</a>, said RBI governor Shaktikanta Das in a statement on Monday, and assured people not to rush to banks. According to RBI, the total value of ₹2,000 banknotes in circulation was ₹6.73 lakh crore at its peak as on March 31, 2018. That’s 37.3% of total notes in circulation. It has dwindled to ₹3.62 lakh crore— and now constitute only 10.8% of notes in circulation as on March 31, 2023. Of this amount, Kotak Institutional Equities expects as much as ₹1.5-2 lakh crore to make its way into banks as deposits. “On a net basis, it is likely that deposits will increase by ₹1.5-2 lakh crore. Durable liquidity could increase by around ₹1 lakh crore depending on behaviour of depositors. This should ease the credit-deposit ratio across banks,” said a report by Kotak Institutional Equities. Further, analysts believe instead of depositing notes in banks people may spend these in buying assets like gold, durables or even real estate property. This money too will indirectly make its way into banks. “With the bank note remaining a legal tender, unlike demonetization, consumption could see a boost. In fact, notes which are not deposited by individuals (undisclosed income, deposits above certain limits, etc.) could move to high-value spends such as gold and jewelry, high-end consumer durables, and real estate (which then reaches <keyword id="6409502" type="General" weightage="20" keywordseo="bank-deposits" source="Orion">bank deposits</keyword>),” added the Kotak report. Besides, some experts say that the rise in deposits may urge the central bank to pause any further hike in interest rates as inflation eases too. A report by Emkay Global says that the deposit surge will ease the current tight liquidity conditions, even if the eventual net deposits remaining with the banking system may be far lower than those seen during demonetization in 2016. As much as ₹1.1 lakh crore was deposited into bank accounts after demonetization in 2016, adjusting for business as usual or BAU during the same period in FY15-16. “Some bankers believe incremental deposit build-up may also largely stall any further deposit rate hikes, while it may also precipitate rate roll-down amid increasing signs of early policy rate easing as the inflation trajectory moderates,” said a report by Emkay Global. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered </a><a href="https://www.businessinsider.in/finance/news/no-need-to-rush-to-banks-as-theres-4-months-time-says-rbi-governor-on-pulling-2000-notes-off-circulation/articleshow/100412638.cms">No need to rush to banks as there’s 4 months time says RBI governor on pulling ₹2,000 notes off circulation</a>

Not just bank deposits, gold sales & real estate to get a boost from ₹2,000 note withdrawal

<ul class="summary-list"><li>Dan Loeb's Third Point is dealing with big investor outflows in 2023, the <a href="https://www.wsj.com/finance/investing/dan-loeb-third-point-hot-hand-goes-cold-5a2fb19?mod=hp_lead_pos3" target="_blank" rel="noopener">Wall Street Journal reported.</a></li><li>Investors have pulled funds after Loeb missed out on the huge tech rally earlier this year.</li></ul>Hedge fund Third Point, led by billionaire investor Dan Loeb, has struggled this year as it missed out on the monster rally in tech shares that powered the market higher through much of 2023. According to a Friday report from <a href="https://www.wsj.com/finance/investing/dan-loeb-third-point-hot-hand-goes-cold-5a2fb19?mod=hp_lead_pos3">The Wall Street Journal</a>, Third Point funds have dropped by about 1.6% through August. That follows a 21.8% loss in 2022 — which exceeded the S&amp;P 500's 18.1% decline — and investors don't seem to be sticking around for the rebound after Loeb missed out on the sharp tech rally earlier this year.The report from the Journal said investors have requested withdrawals at the end of September that amount to $850 million, more than 7% of the firm's assets. Prior to this month, investors had already pulled roughly $1 billion from the hedge fund.Over the last 28 years, Third Point has averaged annualized returns of 16% after fees, the Journal said.Large investors that have taken money out of Loeb's firm include Sacramento County Employee's Retirement System, which requested to pull $60 million from Third Point earlier in 2023 due to the fund's performance, the group's CEO, Steve Davis, said, per the Journal. "I'm not thrilled with the results, but each time we've had 20% drawdowns, we've more than made up for them," Loeb told the Journal.Meanwhile, Third Point had made a significant investment in Sam Bankman-Fried's crypto exchange, FTX, which turned out to be worthless after the crypto exchange's stunning collapse in November 2022. Loeb is now looking ahead to a potential credit crunch. Debt troubles are looming, in his view, as corporate debt maturities pile up and will have to be refinanced in much less favorable conditions and at higher rates. Loeb predicted an "avalanche" of corporate refinancings on the horizon. "We want to be good and ready to deploy capital when the next cycle comes," he told the Journal.

You Searched For "FII withdrawal November 2023" and got 9 results

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