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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

As the results season kicks in, the <keyword id="20097634" type="General" weightage="20" keywordseo="quarterly-earnings" source="keywords">quarterly earnings</keyword> numbers of several <keyword id="22405488" type="General" weightage="20" keywordseo="blue-chip-firms" source="keywords">blue-chip firms</keyword> — such as <keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> and Reliance Industries — along with <keyword id="20837523" type="General" weightage="20" keywordseo="global-trends" source="keywords">global trends</keyword> and <keyword id="20223116" type="General" weightage="100" keywordseo="trading-activity" source="keywords">trading activity</keyword> of foreign investors, will determine <keyword id="22405487" type="General" weightage="20" keywordseo="equity-market-movement" source="keywords">equity market movement</keyword> in the holiday-shortened week ahead, according to analysts. The domestic <keyword id="22405489" type="General" weightage="20" keywordseo="WPI-inflation-data" source="keywords">WPI inflation data</keyword> for June — scheduled to be announced on Monday — will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram. Among major quarterly earnings to be tracked this week are from HDFC Life Insurance Company, Bajaj Auto, BPCL, JSW Steel, Asian Paints, Infosys, and Reliance Industries. "Q1 earnings will be a key focus this week as numerous companies, including heavyweights Infosys, and Reliance, are set to release their results. Additionally, <keyword id="22194639" type="General" weightage="20" keywordseo="pre-Budget-discussions" source="keywords">pre-Budget discussions</keyword> are expected to contribute to market volatility," Santosh Meena, Head of Research, Swastika Investmart Ltd, said. On the global front, a significant focus will be on China. The country is scheduled to announce its GDP and Industrial Production (IIP) numbers, Meena said. "Other global factors to watch include the speech by the US Federal Reserve Chairman, US retail sales figures, and macroeconomic data from Japan," he added. Meanwhile, IT services company HCL Tech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. "On Monday, markets will react to India's inflation data. Key results this week include Jio Financial Services, HDFC Life, Asian Paints, LTIMindtree, Infosys, Wipro, JSW Steel, Paytm, etc. Also globally, investors will take cues from China's GDP numbers, US core retail sales data, and ECB (European Central Bank) interest rate decision," Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services Ltd, said. Retail inflation increased to four-month high of 5.08 per cent in June as food items, including vegetables, became dearer, according to government data released on Friday. Vinod Nair, Head of Research, Geojit Financial Services, said, "We expect stock-specific moves to gain traction due to the ongoing earnings season; indeed, IT will be in the limelight due to the good start to the earnings and outlook." In the week ahead, economic data like China GDP, EuroZone CPI inflation, ECB policy, and the US Fed chair speech will be watched by investors to get cues on market momentum, Nair added. On a weekly basis, the BSE benchmark jumped 522.74 points, or 0.65 per cent, while the Nifty climbed 178.3 points, or 0.73 per cent. The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51. The NSE Nifty surged 186.20 points, or 0.77 per cent, to settle at a record closing high of 24,502.15. Intra-day, it jumped 276.25 points, or 1.13 per cent, to hit a new lifetime peak of 24,592.20.

Trading activity to hinge on Q1 results, global trends in holiday-shortened week: analysts

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 5 paise to 83.45 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Friday, as the American currency retreated from its elevated levels and was supported by significant foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 83.48 and gained further to 83.45 against the greenback, registering a rise of 5 paise from its previous close. On Thursday, the rupee pared its initial losses and settled for the day on an almost flat note at 83.50 against the US dollar. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said rising crude oil prices weighed on investor sentiments and restricted the upside. Brent crude futures, the global oil benchmark, declined 0.37 per cent to USD 87.11 per barrel. "The pressure stems from oil marketing companies purchasing crude in anticipation of further price hikes, with Brent oil hovering around USD 87 per barrel. Additionally, it appears the Reserve Bank of India (RBI) is managing the rupee's volatility, capping both its upward and downward movements," CR Forex Advisors MD Amit Pabari said. Meanwhile, the <keyword id="19976503" type="General" weightage="20" keywordseo="dollar-index" source="keywords">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, was trading at 105, lower by 0.12 per cent. "The Dollar Index fell towards 105 levels and US 10-year bond yields dropped towards 4.35 per cent, as a series of economic data showed a cooling US economy, thereby heightening the expectations that the US Fed will cut rates sometime soon," Pabari added. On the domestic <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> front, the 30-share BSE Sensex fell 386.58 points, or 0.48 per cent, to 79,663.09 points. The broader NSE Nifty declined 84.85 points, or 0.35 per cent, to 24,217.30 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 2,575.85 crore, according to exchange data. SEE ALSO:<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><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms" target="_blank">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Rupee rises 5 paise to 83.45 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> traded on a flat note at 83.43 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Thursday amid a strong greenback after the American central bank decided to keep <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword> unchanged. Forex traders said that an upward movement in the <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> also pressured the Indian currency. However, it found support from positive domestic <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> sentiment and inflow of foreign capital. At the interbank foreign exchange, the domestic unit opened strong at 83.41 but later slipped to its previous closing level of 83.43 against the dollar. The rupee had settled 2 paise higher at 83.43 against the dollar on Tuesday, a day after losing 7 paise on Monday. Foreign exchange market was closed on Wednesday on account of Maharashtra Day. On Wednesday, the US Federal Reserve decided to maintain the status quo on the benchmark interest rates, which was in line with the market expectations. Analysts said that market participants will keep a close watch on the US non-farm payroll data to be released on Friday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 105.64. Brent crude futures, the global oil benchmark, advanced 0.56 per cent to USD 83.91 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 152.67 points or 0.20 per cent higher at 74,635.45. The broader NSE Nifty advanced 25.75 points or 0.11 per cent to 22,630.60. Foreign institutional investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 1,071.93 crore on a net basis, according to exchange data. India's Goods and Services Tax (GST) collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank">Mahindra XUV 3XO compact SUV launched in India starting at ₹7.49 lakh</a>

Rupee turns flat at 83.43 against US dollar in early trade

<ul class="summary-list"><li>China's stock markets slumped after a 10-day rally that was driven by Beijing's stimulus announcement in September.</li><li>Investors were disappointed when a hyped-up Chinese government press briefing failed to deliver more stimulus.</li></ul>China's top leadership has a problem with its economic stimulus: its own investors at home saw right through the hype this week.China's domestic stock markets slumped on Wednesday after a 10-day blitz culminated in a two-year high.The mainland's benchmark CSI 300 Index closed 7.1% lower, while leading indices in Shanghai and Shenzhen ended the day 6.6% and 8.7% lower.China's domestic stock markets are dominated by over 200 million mom-and-pop retail investors, who account for about <a target="_blank" href="https://www.troweprice.com/financial-intermediary/sg/en/thinking/articles/2024/q2/chinas-economy-enters-a-new-cycle-unveiling-fresh-opportunities-apac.html">70% of the trading volume.</a> so market movements reflect ground sentiment.The markets were boosted in late September after a stimulus announcement by the People's Bank of China. The CSI 300 index closed nearly 20% higher year-to-date before weeklong National Day public holidays. The markets reopened on Tuesday and ended higher, though that morning's immediate bump cooled off during the trading day.The rally fizzled because China's National Development and Reform Commission, the country's top economic planner, lined up a highly anticipated press conference on the first working day after weeklong public holidays. But the commission did not introduce more stimulus measures, which dragged market sentiment.<h2 id="24dd9538-5d55-451b-902a-d6d1deb152fc">China watchers are more optimistic</h2>It looks like China's investors are less optimistic than market watchers elsewhere. Those abroad are expressing more confidence in the world's second-largest economy and seeing the bright side in this week's losses.Since the commission is actually responsible for implementation rather than funding initiatives, most analysts weren't expecting much stimulus in the first place.Some professionals even view this week's stock losses positively. Hong Kong's Hang Seng Index — dominated by institutional investors — ended the day down 1.4%, extending Tuesday's 9.5% slump. The index is 9.3% lower so far this week."We believe a pullback following a 36% rally in less than a month may be healthy in allowing market participants to reassess recent policy developments, while providing entry points for new investors and creating more balanced market participation," wrote Yeap Jun Rong, a market strategist at trading platform IG, in a Wednesday note about the Hong Kong market.Instead of harping on market jitters, economists are now pointing to Beijing's political commitment to improving the economy."To be sure, there may still be an expectations gap as announcements fall short of loftier expectations. But that's not as damaging as market misgivings about Beijing getting stimulus cold feet," Vishnu Varathan, Mizuho's macro research head for Asia excluding Japan, wrote in a note on Wednesday.After the initial stimulus announcement on September 24, China's top leaders swiftly pledged support for the economy, including in the beleaguered property market.According to Xinhua state news agency, <a target="_blank" href="https://www.chinadaily.com.cn/a/202410/08/WS6705253aa310f1265a1c6860.html">Chinese Premier Li Qiang</a> called on the country to implement economic stabilization measures on Tuesday."There is a case to be made that Beijing's initial pronouncements of boosting the equity market, supporting housing unequivocally are sound commitments," wrote Varathan. He said that China is already in the midst of a hard landing — and Beijing knows it."And so, Beijing is now fully invested in efforts to extricate the economy holistically," he wrote.Economists are waiting for more meaningful support measures."We expect a fiscal package to be announced in coming weeks, including demand-boosting stimulus on consumption and investment, as well as further enhancement of social security, healthcare, and birth encouragement," wrote Hele Qiao, the Greater China chief economist and head of Asia economics research at BofA Global Research, on Tuesday.Qiao expects an announcement after the next meeting of China's top legislature, which typically takes place any time from mid-October to early November. The exact date will only be announced a week or two before the meeting.

The markets saw right through China's latest economic support hype

Mumbai: Indian <keyword id="19900617" type="General" weightage="20" keywordseo="stock-markets" source="keywords">stock markets</keyword> opened at a new high on Friday, with both indices continuing the bull run. The <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords" meta.keywordsubtype="org" meta.entityname="Nifty 50" meta.hostid="261" meta.entityid="Nifty 50">Nifty 50</keyword> index opened closer to its 52-week high, while the <keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> opened above the 83,000 mark for the first time. The Nifty 50 index opened at 25,430.45, gaining 41.55 points or 0.16 percent, while the BSE Sensex opened at 83,091.55 points, a surge of 128.84 points or 0.16 percent. Global markets are rallying ahead of the Fed rate cuts, and <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> are continuously reaching new highs, reflecting strong investor confidence. "The focus is totally on the Fed action and Fed speak of Sep 18th. But the Sep 12th Indian markets action is pointing to a classical flows pattern of equity markets getting inflows as the US dollar weakens on the back of Fed rate cuts. Markets will move sharply in anticipation of this. Some minor risk off is possible early next week, in the lead up to the FOMC announcement on Sep 18th night time in India. FIIs have cut the "caution" out from our "cautious optimism" and made us ardently "optimistic" said Ajay Bagga, Banking and market expert. In the sectoral indices on the National Stock Exchange, Nifty Media led in gains, followed by Nifty Metal and Nifty PSU Bank. In the Asian markets on Friday, there was mixed movement, with Japan's Nikkei index falling 0.89 percent, along with flat movement in South Korea's KOSPI. Meanwhile, Hong Kong's stock index surged 1.16 percent, and Taiwan's Taiwan Weighted also gained marginally, by 0.14 percent at the time of filing this report. The U.S. markets on Thursday marked the fourth consecutive session of gains, with the S&amp;P index gaining 0.75 percent, while the Nasdaq surged 1 percent by the closing bell. The European markets also closed with positive gains after the EU announced rate cuts of 25 basis points. Germany's DAX surged 1.02 percent, France's CAC index gained 0.51 percent, while the UK's FTSE index gained 0.57 percent on Thursday. The Indian stock markets hit a record-breaking milestone on Thursday, with both Sensex and Nifty closing at record highs. This surge was driven by broad-based buying across sectors, reflecting strong investor confidence and robust market sentiment. The Sensex skyrocketed by 1,439.55 points to close at 82,962.71, while the Nifty surged by 395.40 points, closing at 25,313.85 points.

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

PTI

Trading activity to hinge on Q1 results, global trends in holiday-shortened week: analysts

PTI

Rupee rises 5 paise to 83.45 against US dollar in early trade

PTI

Rupee turns flat at 83.43 against US dollar in early trade

PTI

The markets saw right through China's latest economic support hype

Huileng Tan

Indian markets open at record high, Sensex above 83,000 and Nifty above 25,400

ANI

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