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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

Food delivery and quick-commerce behemoth Swiggy's initial public offering (IPO) closes for subscription today. The issue has already been subscribed about 213% as of 1:35 pm today. The offer garnered massive interest from QIB (qualified institutional buyers), who subscribed 3.46x to it, bidding for 30,09,09,954 shares as against 8,69,23,475 shares allotted for them. The company will tentatively list on both BSE and NSE on November 13, 2024. Swiggy's employees also gave the IPO a thumbs-up, subscribing 1.42x to the offer. Around 7,50,000 shares were reserved for employees in the IPO, at a discount of Rs 25 to the issue price. On the other hand, retail investors subscribed to 99% of their potion. At the same time, the NII (non-institutional category) fetched a muted response, with investors subscribing to only 25% of shares in their category. <h2>Dull GMP</h2> Pre-IPO, Swiggy had also lapped up Rs 5,085 crore from anchor investors. With a price band of Rs 371-390, the company is looking to raise Rs 11,327 crore from the IPO. Out of this, the fresh issue component is worth Rs 4,499 crore, and the offer for sale (OFS) is Rs 6,828 crore. Investors can expect dampened listing day gains, going by the trends in the GMP (grey market premium) market. The company's last-traded GMP was at a mere Rs 1, taking the estimated listing price to Rs 391 (upper end of the price band at Rs 390 + GMP), which means that the potential gain per share would be a minuscule 0.26%. Per InCred Equities, the IPO can be subscribed to since the company has favorable scale and potential to tap in long-term opportunities. Quick commerce provides growth runaway, while the food delivery vertical has the potential to improve the margin and cash flow going ahead. Per the company's Q1FY25 earnings report, it generates 47% of revenue from the food delivery business and 39% from its supply chain and distribution business (operated via Scootsy Logistics Private Limited). About 12% of the company's revenue comes from its quick commerce wing i.e. Instamart, while Dineout (eating out) and platform innovations make up about 1% each of the revenue. "Swiggy’s IPO price band implies 1) EV/revenue multiple of ~6.5x, 2) EV/GOV of ~2.1x, and 3) a P/S of ~6.7x based on annualized FY25F financials. The valuation is at a discount to Zomato, which trades at an EV/revenue multiple of ~11.3x, an EV/GOV of ~3.2x (annualized), and a P/S of ~11.4x based on FY25F consensus estimates. Internal controls, as reflected in the auditor’s qualified opinion, and increased competitive intensity are the key downside risks, in our view," InCred further adds. Notably, in FY23 and FY24, auditors raised concerns over loans given to subsidiaries, namely Supr Infotech and Scootsy which may impact Swiggy's overall financial stability. Some of the qualifications highlighted by the auditors include potential impairment, interest payment delay, and using new loans to cover interest costs.

Swiggy IPO subscribed to 2.13 times on last day of the offer

<ul><li>Net FII inflows have been negative for the first two months of the year, thanks to rising interest rates in the US.</li><li>The sell off by FIIs turned positive in March after being in red for three consecutive months.</li><li>While FIIs were busy selling, DIIs including mutual funds and insurance companies bought stocks during periods of volatility.</li></ul>Net investments by foreign institutions turned positive in March, all thanks to investment in <keyword id="4929350" type="General" weightage="20" keywordseo="adani-group-companies" source="Orion">Adani Group companies</keyword> by the US-based <keyword id="4169270" type="General" weightage="20" keywordseo="GQG-Partners" source="Orion">GQG Partners</keyword>. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> have been selling down stocks for three consecutive months now. GQG Partners had on March 2 picked up stakes in four group companies for ₹15,446 crore. Following this, a day later Adani group’s combined market capitalisation also increased by ₹81,980 crore fueling investor sentiment and recovering some investor confidence. The four companies Gautam Adani sold shares in included — Adani Enterprises, Adani Ports &amp; Special Economic Zone, Adani Transmission and Adani Green Energy. The irony is that the crisis in Adani stocks was also among the major reasons for the volatility in the home market a few weeks back, due to Hindenburg Research's fraud allegations and other regulatory aspects related to stock markets. However, the correction in the markets is making them attractive and that could enthuse more investors going forward, experts say. “The near-term outlook for FPI looks much more positive now. Even though Indian valuation continues to be relatively high, the recent market correction has made valuations a bit more reasonable than earlier,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. “FPIs turning buyers in banking will help banking stocks scale higher levels assisted by good Q4 results,” said Vijayakumar. In the last one week, Nifty Bank has surged more than 3%, after huge sell off in these stocks this year. A better year for FIIs Sanjeev Hota, vice president, head of research at Sharekhan BNP Paribas expects India to clock in net FII inflows this year, as last year saw sharp outflows. Globally, macroeconomic headwinds are showing signs of fading, though it’s too early to say if volatility will end, he opines. “At 17.5x one year forward valuation, it looks reasonable to put new money in the markets. Besides, this is the right time for long term investors to put money after the recent correction. Long term India's growth story looks solid and it is providing an opportunity for investors to accumulate quality stocks at reasonable levels,” said Hota. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foreign institutional flows in 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FII flows </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,997 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹11,090 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹41,464 crore </td></tr></tbody></table>Source: NSE FII exits have been making headlines especially for many months now because of the rising interest rates in the US market. Rise in the US interest rates does not bode well for the Indian markets, as it can lead to foreign investors pulling their money out from emerging markets like India and infuse into treasuries and money markets of the US that look more attractive. While FIIs were busy selling Indian equities, <keyword id="181673" type="General" weightage="20" keywordseo="domestic-institutional-investors" source="Orion">domestic institutional investors</keyword> (DIIs) including mutual funds, insurance companies bought more Indian stocks during volatility. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic institutional flows in 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DII flows </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30,548 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19,239 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹33,411 crore </td></tr></tbody></table>Source: NSE SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/udayshivakumar-infra-lists-at-a-14-discount-in-spite-of-a-stellar-subscription/articleshow/99206327.cms">Udayshivakumar Infra lists at a 14% discount in spite of a stellar subscription</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/passenger-vehicle-sales-steady-commercial-vehicles-drive-growth-in-march/articleshow/99206199.cms">Passenger vehicle sales steady, commercial vehicles drive growth in March</a>

FII flows remain erratic in 2023 so far while DIIs invest more than $10 billion

Smaller stocks have emerged as markets' favourites so far this year, giving big returns to investors amid optimism over the country's macroeconomic fundamentals and surge in <keyword id="22447586" type="General" weightage="20" keywordseo="domestic-liquidity" source="keywords">domestic liquidity</keyword>. Till July 16 this year, the BSE midcap gauge has jumped 10,984.72 points or 29.81%, while the smallcap index has surged 11,628.13 points or 27.24%. In comparison, the BSE 30-share benchmark Sensex has rallied 8,476.29 points or 11.73% so far this year. "The primary reason for the outperformance of midcap and smallcap stocks is the surge in domestic liquidity. A substantial amount of domestic money is flowing into these segments through mutual funds, portfolio management services (PMS), and direct investments," said Sunil Nyati, Managing Director, Swastika Investmart Ltd. We are currently in a structural bull market, where midcap and smallcap stocks tend to outperform, he noted. "While largecap stocks have also performed well, they have lagged behind midcap and smallcap stocks due to selling by <keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword> (FIIs)," Nyati added. Stock markets are closed today on account of Muharram. Experts said equity markets are experiencing a prolonged bull run, and it is during this time that the midcap and smallcap segments tend to outshine their larger counterparts. "We are currently in a <keyword id="22447587" type="General" weightage="20" keywordseo="global-bull-market" source="keywords">global bull market</keyword> led by the US, while our market is outperforming other emerging markets due to strong fundamentals and abundant domestic liquidity. "Although there are valuation concerns, particularly in the midcap and smallcap segments, the large-cap space still has room for further upside. Furthermore, foreign institutional investors have now shifted to a buying mood after aggressively selling in the first half of 2024," Nyati said. The BSE midcap gauge hit its all-time high of 48,175.21 on July 16 this year, while the smallcap index reached its lifetime peak of 54,617.75 on July 8. The BSE benchmark hit its record high of 80,898.3 on July 16. "The outperformance of midcap and smallcap indices compared to the Sensex this year can be attributed to sector-specific strengths in technology, healthcare, and consumer goods, coupled with their lower valuations and higher growth potential in a booming economy," said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd. The midcap index tracks companies with a market value that is on average one-fifth of blue-chips, while smallcap firms are almost a tenth of that universe. "There is some froth in the midcap and smallcap space, and the risk of a correction exists. However, timing this correction is challenging amid the current flood of liquidity. While there is no immediate trigger for a correction, any policy changes or earnings disappointments could potentially serve as catalysts," Nyati said. The market is likely to continue its rally, provided there are no negative surprises from the upcoming Budget, he noted. "Clear signs of impending rate cuts in the US could lead to aggressive FII inflows into emerging markets like India, further boosting our market," Nyati added. According to analysts, smaller stocks are generally bought by local investors, while overseas investors focus on blue-chips or large firms. Experts said active participation from domestic investors has played a big role in pushing the broader market counters. According to Nanda, the future trajectory of midcap and smallcap indices depends on several factors, including economic conditions, corporate earnings performance, investor sentiment, and global market dynamics. "While the current rally suggests strong momentum driven by sectoral strengths and <keyword id="19933340" type="General" weightage="20" keywordseo="investor-optimism" source="keywords">investor optimism</keyword>, corrections can occur due to profit-taking, changes in market sentiment, or external shocks," Nanda added.

Small stocks reap big gains this year; BSE midcap index jumps 30%

Benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty ended flat on Friday in a muted trade amid largely weak global markets and ahead of the quarterly earnings from the country's most valued firm Reliance Industries. In a volatile trade, the 30-share BSE Sensex edged up 22.71 points or 0.04 per cent to settle at 59,655.06. During the day, it hit a high of 59,781.36 and a low of 59,412.81. The broader NSE Nifty ended at 17,624.05, showing a marginal dip of 0.40 points. Among the Sensex firms, ITC, Tata Consultancy Services, Wipro, Asian Paints, HCL Technologies, HDFC, Kotak Mahindra Bank, Bajaj Finance, Infosys, Sun Pharma, Hindustan Unilever, Power Grid, Reliance Industries and HDFC Bank were the winners. HCL Technologies climbed 1 per cent after the company on Thursday posted a 10.85 per cent increase in consolidated net profit to Rs 3,983 crore for the fourth quarter of 2022-23. Tech Mahindra, Maruti, Tata Steel, UltraTech Cement, Tata Motors and ICICI Bank were among the laggards. In Asian markets, Seoul, Japan, Shanghai and Hong Kong ended lower. European markets were trading on a mixed note. The <keyword id="123399" type="General" weightage="20" keywordseo="us-markets" source="Orion">US markets</keyword> ended in the negative territory on Thursday. "Mounting uncertainty in both global and domestic markets has kept Indian equities highly volatile. Weak signals of a softening job market and declining manufacturing activity in the US have raised fears of a possible recession. Despite the RBI MPC's unanimous decision to pause rates, its minutes revealed that its members continue to hold concerns about high inflation. "However, the market received some support towards the closing bell from the IT and FMCG sectors, facilitating its recovery," said Vinod Nair, Head of Research at Geojit Financial Services. Meanwhile, global oil benchmark Brent crude dipped 0.04 per cent to USD 81.07 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 1,169.32 crore on Thursday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kumar-mangalam-birlas-comeback-boosts-shareholder-confidence-in-vodafone-idea/slidelist/99666880.cms">Kumar Mangalam Birla’s comeback boosts shareholder confidence in Vodafone Idea</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/itc-has-had-a-dream-run-in-fy23-and-heres-why-theres-more-juice-left-in-the-stock/articleshow/99662367.cms">ITC has had a dream run in FY23 and here’s why there’s more juice left in the stock</a>

Sensex, Nifty settle flat in subdued trading; Reliance Industries earnings eyed

Universities and <keyword id="20257650" type="General" weightage="20" keywordseo="higher-education-institutions" source="keywords">higher education institutions</keyword> in India can now admit students twice a year similar to the admission process followed by universities abroad, according to the <keyword id="19932585" type="General" weightage="20" keywordseo="University-Grants-Commission" source="keywords">University Grants Commission</keyword> (UGC) Chairman Jagadeesh Kumar. The two admission cycles will be July-August and January-February from the 2024-25 academic session. "If <keyword id="21269142" type="General" weightage="20" keywordseo="Indian-universities" source="keywords">Indian universities</keyword> can offer admission twice a year, it will benefit many students. Such as those who missed admission to a university in the July/August session due to a delay in the announcement of board results, health issues, or personal reasons. Biannual university admissions will help students maintain motivation since they do not have to wait one full year to be admitted if they miss admission in the current cycle," UGC Chairman Kumar said on Tuesday. Currently, UGC Regulations allow the Higher Education Institutions (HEIs) to admit students in one academic session in a year starting in July/August. An 'Academic session' is twelve months, beginning in July/August. Indian HEIs, therefore, follow the academic session that begins in July-August and ends in May-June. UGC had decided in its 571st commission held on 25 July 2023 to permit <keyword id="22014108" type="General" weightage="20" keywordseo="biannual-admissions" source="keywords">biannual admissions</keyword> under Open and Distance Learning (ODL) and Online modes in January and July during an academic year. As per the information furnished by the HEIs on the UGC DEB portal, in addition to a total of 19,73,056 students were enrolled in July 2022 and an additional 4,28,854 students joined in January 2023 in ODL and online programs. Considering the tremendous response and interest from the students in ODL and online programs in biannual admissions, in its meeting held on May 15 this year the UGC took a policy decision to allow Higher Education Institutions who offer programs in regular mode to admit students twice in a year, either in January/February or July/August from the coming academic year, the UGC chairman said. Those institutions that have the required infrastructure and teaching faculty can utilize the opportunity to admit students biannually. Offering biannual admissions is not mandatory for the HEIs; it is the flexibility that UGC provides to the HEIs who want to increase their student intake and offer new programmes in emerging areas. To be able to admit students twice a year, HEIs must make suitable amendments to their institutional regulations. UGC Chairman Kumar said, "With biannual admissions in place, Industries can also do their <keyword id="22014800" type="General" weightage="20" keywordseo="campus-recruitment" source="keywords">campus recruitment</keyword> twice a year, improving employment opportunities for the graduates." Biannual admissions will also enable the HEIs to plan their resource distribution, such as faculty, labs, classrooms and support services, more efficiently, resulting in a better functional flow within the university, he said. Noting that Universities worldwide already follow a biannual admission system, he said that if Indian institutions adopt the biannual admission cycle, they can enhance their international collaborations and student exchanges. "As a result, our global competitiveness will improve, and we will align with the global educational standards," the UGC Chairman said. Biannual admissions can substantially increase the Gross Enrolment Ratio and make India a 'Global Study Destination' as envisioned in National Education Policy (NEP) 2020, he said. Further, Kumar said that if HEIs adopt biannual admissions, they need to work on administrative intricacies, good planning for increased use of available resources, and providing seamless support systems for the smooth transition of students admitted at dissimilar times of the year. "HEIs can maximize the usefulness of biannual admissions only when they sufficiently prepare the faculty members, staff and students for the transition" SEE ALSO:<a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank">iOS 18 announced with Apple Intelligence, improved privacy controls, customisable home screen and more</a><a href="https://www.businessinsider.in/tech/news/apple-vision-pro-to-be-available-in-nine-new-countries-but-india-is-not-one-of-them/articleshow/110883439.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-vision-pro-to-be-available-in-nine-new-countries-but-india-is-not-one-of-them/articleshow/110883439.cms" target="_blank">Apple Vision Pro to be available in nine new countries, but India is not one of them</a><a href="https://www.businessinsider.in/stock-market/webstories/ixigo-ipo-now-open-price-band-to-risk-factors-all-you-need-to-know/slidelist/110867238.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ixigo-ipo-now-open-price-band-to-risk-factors-all-you-need-to-know/slidelist/110867238.cms" target="_blank">Ixigo IPO now open – Price band to risk factors, all you need to know</a>

Universities in India can now admit students twice a year on lines of foreign varsities: UGC chairman

<ul><li>Bond flows are still in the red, with net foreign portfolio investment (<keyword id="725142" type="General" weightage="20" keywordseo="FPI" source="Orion">FPI</keyword>) flows at a negative ₹2,348 crore. </li><li>However, <keyword id="6389755" type="General" weightage="20" keywordseo="foreign-portfolio-investors" source="Orion">foreign portfolio investors</keyword> returned to buy in the Indian equity markets in the second half of 2022 with investments of over ₹95,000 crore. </li><li>The rising US dollar and US treasury yields have resulted in FPIs shunning riskier markets, say analysts. </li></ul>Foreign portfolio investment (FPI) outflows from India’s debt markets have narrowed but are still in the red in the second half of the year so far even as the equity market drew investments of over ₹95,000 crore in the period, reversing a massive sell-off witnessed in the first half of this year. While the capital flows story in the equity segment has two distinctly clear trends – the first half witnessed an extensive sell-off, with the second half seeing a spectacular reversal – the trend in the debt segment has been that of a sell-off – moving from more to less. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Equity segment </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Debt segment </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">H1 2022 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹2,17,358 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹14,869 crore </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">H2 2022 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹95,199 crore </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹2,348 crore </td></tr></tbody></table> Source: NSDL, as of December 22, 2022 “Increasing risks to the global economy have forced market players to shun riskier assets and move to the safety of the US dollar,” the Kotak Securities report added. In its efforts to control rising inflation, which hit a high of 9.1% in July this year, the US Federal Reserve has been raising interest rates and has indicated that it is likely to continue with its hawkish stance. In 2022 so far, the US Fed has hiked interest rates seven times, totaling 425 basis points. This monetary tightening, which has also been carried out by other major central banks, coupled with increasing fears of recession has seen <keyword id="58959" type="General" weightage="20" keywordseo="foreign-investors" source="Orion">foreign investors</keyword> pull out money from riskier assets as they seek out safe havens. The US dollar index, for instance, has gained 8.6% this year so far. The rupee has fallen over 11%, from 74.5 per US dollar at the beginning of the year to 82.8 as on December 23. Also, the yields on the US bonds are climbing, encouraging investors. “US 2-year treasury yields surged past 4.5%, while 10-year yields crossed 4% in October, as Fed maintained extreme hawkishness,” said a report by Kotak Securities. On the other hand, the Indian government’s 10-year bond yields have remained relatively stable, between 7.2-7.5% in the second half of the year. Foreign capital flows are also about getting the best returns. On this, equity scores higher than debt. According to a report by FundsIndia, the one-year compounded annualised return on the Nifty50 index stood at 11.9% at the end of November, compared to 3.8% on the debt index in the same period. On the other hand, the S&amp;P 500 index’s return stood at a negative 4.6% in this period. <cmsannotation type="cmsannotation" annotationid="Equity reversal" comment="subhead" text="Equity reversal">Equity reversal</cmsannotation> The strong rebound in <keyword id="8819776" type="General" weightage="20" keywordseo="FPI-flows" source="Orion">FPI flows</keyword> into Indian equities in the second half of the year – from outflows of ₹2.17 lakh crore in first half of 2022 to inflows of ₹95,199 crore in the second half – tracks investor expectations for a softening of the US Fed stance on rate hikes. “FPI flows towards India and other emerging markets from July 2022 started to turn largely positive with bouts of moderate selling. The above behaviour could be again signalling that the aggressive rate hikes by the US Fed may be approaching its peak going ahead,” said a report by ICICI Securities. <div type="image" title="FPI flows equity vs debt Jan-Dec 2022." msid="96563651" hostid="261" sizebytes="28554" caption="&amp;lt;p&amp;gt;FPI flows equity vs debt in 2022&amp;lt;/p&amp;gt;"></div> Hitesh Jain, lead analyst at Yes Securities, explained that the strong reversal in the flows in the second half of the year was due to investments exiting Russia and finding their way to India after the breakout of the Russia-Ukraine war. “FIIs are now pouring money into domestic-facing sectors like banks and consumption stocks, which are immune to global shocks, and traction is apparent in terms of India’s credit growth and consumer spending,” he said. It remains to be seen how the confluence of monetary policy stances of key central banks across the world, geopolitical tensions and the fears of recession play out in 2023. Indian markets are betting that benign macroeconomic factors will help strengthen FPI flows into both the equity and debt markets. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/reliance-irctc-landmark-cars-and-other-stocks-in-focus/articleshow/96426021.cms">Sensex, Nifty50 tumble over 1% over Covid concerns – auto, energy, PSU banks, metal stocks drag while pharma stocks gain</a> <a href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-sectoral-indices-of-nifty-in-2022/articleshow/96448669.cms">Best and worst performing sectoral stock market indices in 2022</a> <a href="https://www.businessinsider.in/business/news/flipkart-and-phonepe-complete-separation-six-years-after-acquisition/articleshow/96448321.cms">Flipkart and PhonePe complete separation six years after acquisition</a>

FPIs return to Indian equities in the second half of 2022, but bond flows are still in the red

The rupee gained 13 paise to 81.82 against the <keyword id="6368584" type="General" weightage="20" keywordseo="US-dollar" source="Orion">US dollar</keyword> in early trade on Thursday, boosted by foreign fund inflows. At the interbank foreign exchange, the domestic unit opened at 81.93 against the dollar, then climbed to 81.82, registering a rise of 13 paise over its previous close. On Wednesday, the rupee closed at 81.95 against the US currency. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 105.63. Overall, higher US bond yields and risk-off-tilted equity sentiment are making a base case for the stronger USD, CR Forex Advisors MD Amit Pabari said, adding that FDI and FPIs have acted as life support for the rupee. "In March, they (FPIs) are net investors with more than Rs 10,000 crore in equities... we could see rupee trading in the range of 81.50 to 82.50 over the short-term," Pabari said. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital market on Wednesday as they purchased shares worth Rs 3,671.56 crore, according to exchange data. Brent crude futures, the global oil benchmark, advanced 0.02 per cent to USD 82.66 per barrel on Thursday. In the domestic equity market on Thursday, the 30-share BSE Sensex fell 131.61 points or 0.22 per cent to 60,216.48 points. The broader NSE Nifty declined 33.30 points or 0.19 per cent to 17,721.10 points. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/ranbir-kapoor-continues-to-chase-romance-on-screen/articleshow/98475504.cms">In an industry where action sells, Ranbir Kapoor continues to chase romance on-screen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/longer-trading-hours-better-norms-for-ipos-among-assochams-recommendations-for-equity-markets/articleshow/98477860.cms">Longer trading hours, better norms for IPOs among Assocham’s recommendations for equity markets</a>

Rupee rises 13 paise to 81.82 against US dollar in early trade

<keyword id="20025308" type="General" weightage="100" keywordseo="groundwater" source="keywords">Groundwater</keyword> is projected to warm by 2-3.5 degrees Celsius before the turn of this century, potentially risking <keyword id="15300" type="General" weightage="20" keywordseo="water" source="Orion">water</keyword> quality and safety, apart from threatening <keyword id="19969898" type="General" weightage="20" keywordseo="ecosystems" source="keywords">ecosystems</keyword> depending on the resource, a new research has found. The "world's first global groundwater temperature model" predicted the highest warming rates in Central Russia, Northern China and parts of North America, and the Amazon rainforest in South America. A team of researchers, led by those from the <keyword id="21946640" type="General" weightage="20" keywordseo="Karlsruhe-Institute-of-Technology" source="keywords" meta.keywordsubtype="org" meta.entityname="Karlsruhe Institute of Technology" meta.hostid="153" meta.entityid="Karlsruhe Institute of Technology">Karlsruhe Institute of Technology</keyword>, Germany, said while a lot of focus on <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">climate change</keyword> concerns weather events and water availability, we also need to think about how it impacts groundwater, critical to life on the planet. Warming of groundwater can adversely impact ecosystems relying on them, they said. "Rivers rely on groundwater to keep flowing during dry times. Warm waters hold less dissolved oxygen," explained study co-author Gabriel Rau from the University of Newcastle, UK. The model also estimated that by 2100, 60-600 million people globally could be living in areas where groundwater exceeds the highest threshold for <keyword id="19905383" type="General" weightage="20" keywordseo="drinking-water" source="keywords">drinking water</keyword> temperature guidelines set by any country. According to the World Health Organisation, currently only 18 out of 125 countries have temperature guidelines for drinking water. Warmer groundwater raises the risk of disease-causing microbial growth, thereby, affecting drinking water quality and potentially the lives of people, said Rau. "This is especially concerning in areas where access to clean drinking water is already limited, and in areas where groundwater is consumed without treatment," he added. Based on how heat spreads in water, the researchers modelled current groundwater temperatures and also projected changes between 2000-2100 around the world. Groundwater is present beneath the Earth's surface in pore spaces in rocks and soils. "We show that groundwater at the depth of the water table (excluding permafrost regions) is conservatively projected to warm on average by 2.1 degrees Celsius between 2000 and 2100 under a medium emissions (scenario)," the authors wrote in the study published in the journal Nature Geoscience. Under this scenario, emissions trends do not markedly change from historical patterns. The model, however, showed that under a high-emissions scenario, or fossil fuel-driven development, the groundwater temperature could rise by 3.5 degrees Celsius. The warming of groundwater can be a cause for concern, although it depends on whether the climate change issue can be mitigated by cutting down greenhouse gas emissions, the researchers said. Warmer groundwater can also impact water quality by affecting its chemistry and microbiology, they said. "If temperatures increase, we may see significant impacts to our local aquatic animals, including their spawning processes which will impact industries and communities that are reliant on these ecosystems," said co-author Dylan Irvine, Charles Darwin University, Australia.

Groundwater to get over 3 degrees warmer by century's end, threatening water quality and safety: Study

<ul><li>After selling equities from the start of 2023, <keyword id="6368141" type="General" weightage="20" keywordseo="fiis" source="Orion">FIIs</keyword> reversed the trend and started buying Indian equities from February 10.</li><li>As US inflation data continues to disappoint, emerging markets like India turn attractive again.</li><li>India’s growth story is intact and that’s why FIIs keep coming back, say analysts.</li></ul><keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> (FIIs) bought equities worth over ₹6,000 crore in India in the last five trading sessions of February after a sharp sell off to the tune of ₹41,464 crore witnessed in January. After selling equities from the start of 2023, FIIs reversed the trend and started buying Indian equities from February 10. Due to negative flows from FIIs so far this year, Indian benchmark indices saw extreme volatility with <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword>, <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> underperforming as compared to other major markets. FII interest in emerging markets like India comes from the fact that US inflation still remains disappointing. Although the US inflation slowed down in January, it was still higher than expected at 6.4% on year, which raised concerns that the Fed will continue to be hawkish in its monetary policy. “Higher US inflation data and lower jobless claim data led to hawkish commentaries by some of the US Fed officials which dented sentiments and led to the renewed fear of aggressive rate hikes in the subsequent meets to combat sticky inflation,” said Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services. Deepak Jasani, head of retail research, HDFC Securities says that emerging markets are now back in favour. “The return of foreign institutional flows currently has more to do with emerging markets coming back in favor. Global investors are becoming less bullish on the US due to the expected elongated rate hike cycle, rising trade deficit, elevated debt levels/ceiling issues and other not so encouraging data points. Emerging markets are turning more favorable in this situation when us dollar seems to be peaking out,” he added. Analysts also say that India’s growth story is intact, which is why FIIs keep coming back. Sanjeev Hota, vice president, head of research at Sharekhan BNP Paribas predicts that India is expected to have net FII inflows this year, as last year saw sharp outflows. “India offers a kind of stable structural growth story compared to other parts of the world, which is why FIIs cannot stay away from India. There could be volatility in the foreign fund flows but on a whole year basis, positive flows will be coming in India. Empirical data shows India has never witnessed FII outflows two years in a row," Hota told Business Insider India. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Institutional flows in last few sessions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FII flows </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DII flows </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 16 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,570 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,577 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 15 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹432 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹516 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 14 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,305 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹204 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 13 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,322 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹521 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">February 10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,458 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹291 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE Analysts are confident that the home market would do better even in the coming years and India will remain <a href="https://www.businessinsider.in/stock-market/news/india-a-long-term-investment-destination-even-among-g-20-countries/articleshow/97875443.cms">a long-term investment destination </a>even among G-20 countries. <a href="https://www.businessinsider.in/finance/news/this-is-indias-decade-and-gdp-is-likely-to-cross-7-5-trillion-by-2031-says-morgan-stanley/articleshow/95256483.cms">Morgan Stanley had predicted last year </a>that India could become the world’s third largest economy and stock market. It is currently the world’s fifth largest economy. At the same time, domestic institutional investors (DIIs) bought nearly ₹3,000 crore in the last five sessions. Domestic Institutional Investors are institutions like insurance companies, mutual fund houses, pension funds or provident funds. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/sell-off-in-adani-group-shares-resumes-after-george-soros-comments/articleshow/98008647.cms">Sell-off in Adani group shares resumes after George Soros’ comments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-zomato-policybazaar-nykaa-companies-attain-spotlight-again-after-q3-performance/articleshow/98003305.cms">New age technology companies attain spotlight again after Q3 performance</a>

FIIs pump in ₹6,000 crore in 5 sessions as emerging markets turn attractive again

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated 13 paise to 81.43 against the US dollar in early trade on Friday weighed down by firm crude oil prices and a muted trend in domestic equities. Sustained foreign fund outflows further dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 81.32 against the dollar, then fell to 81.43, registering a decline of 13 paise over its last close. In the previous session on Thursday, the rupee gained 38 paise to close at 81.30 against the US dollar. Meanwhile, the <keyword id="75201" type="General" weightage="20" keywordseo="dollar-index" source="Orion">dollar index</keyword>, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 102.31, as the annual rate of headline inflation in the US retreated in December. Brent crude futures, the global oil benchmark, declined 0.36 per cent to USD 83.73 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 279.76 points or 0.47 per cent lower at 59,678.27. The broader NSE Nifty fell 74.05 points or 0.41 per cent to 17,784.15. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign institutional investors</keyword> (FIIs) turned net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,662.63 crore, according to exchange data. Meanwhile, on the domestic macroeconomic front, India's industrial production growth rose to a five-month high of 7.1 per cent in November on the back of better showing by manufacturing, according to official data released on Thursday. <keyword id="513422" type="General" weightage="20" keywordseo="retail-inflation" source="Orion">Retail inflation</keyword> declined to a one-year low of 5.72 per cent in December 2022 mainly due to cooling of vegetable prices, according to the data. Experts believe, with the <keyword id="134096" type="General" weightage="20" keywordseo="consumer-price-index" source="Orion">Consumer Price Index</keyword> (CPI) remaining below 6 per cent for the second month in a row, the Reserve Bank has some room to pause interest rate hike which has been going on since May last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty50-set-to-clock-10-increase-in-profit-in-q3-banks-likely-to-outperform/articleshow/96956814.cms">Nifty50 set to clock 10% increase in profit in Q3; banks likely to outperform</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations</a>

Rupee falls 13 paise to 81.43 against US dollar

<ul class="summary-list"><li>More Americans are moving to Tuscany, a part of Italy known for medieval walled cities and wine.</li><li>They're drawn by greater affordability, the charm of the local culture, and its relative safety.</li></ul>Leanne Davis has always had a taste for wine.The California native runs her own winery, Via Romano Vineyards, outside Sacramento. So it's perhaps little surprise that her love of the grape is leading her to her next home: Tuscany, the lush enclave in central Italy famed for its vine-covered hills and bushy olive trees.A decade ago, Davis and her husband, Jon Chewning, fell in love with the region when they were married by the mayor of Montepulciano, a romantic hilltop town about an hour and a half from Florence, the regional capital.Over the years, the couple returned, leading clients of their wine club on tours. Davis and Chewning were so enchanted that, in 2022, they spent $32,000 on a home in Boccheggiano, a medieval town about two hours northeast of Florence.Davis and Chewning were already repeat customers in Boccheggiano, having co-purchased a $28,000 vacation home with friends there three years earlier. Now, they're planning to be fully settled in Tuscany by next year.<div type="image" title="A green landscape view in Italy from a home." height="1305" width="1440" msid="108162363" hostid="261" sizebytes="367010"></div>"It's got everything," Davis told Business Insider. "It's beautiful. It has fantastic wines, the landscape is just unbeatable. It almost looks like a painting." Most importantly, she added, "the people are so friendly."The couple is part of a <a target="_blank" href="https://www.businessinsider.com/americans-moving-to-europe-cheaper-homes-2022-8">growing wave of Americans relocating</a> to Tuscany for part or all of the year, trading their Bud Lights, hamburgers, and white picket fences for free-flowing local wine, platters of charcuterie and cheese, and stately villas that date back centuries.Some, like Davis and Chewning, are moving because they prefer a <a target="_blank" href="https://www.businessinsider.com/retirees-italy-cheaper-slower-pace-cost-of-living-2024-2">slower-paced lifestyle</a> full of food and beautiful vistas. Others are motivated by Tuscany's relative affordability, made even cheaper by a strong dollar — especially as the <a target="_blank" href="https://www.businessinsider.com/how-much-food-healthcare-housing-cost-most-expensive-us-cities-2024-2">cost of living</a> and <a target="_blank" href="https://www.businessinsider.com/personal-finance/large-expenses-underestimate-retirement-2023-12">retiring</a> in the US has skyrocketed. It's also historic, art-filled, and objectively gorgeous.<div type="image" title="Two photos of a man and a woman side by side" height="720" width="1280" msid="108162365" hostid="261" sizebytes="80232"></div>"It just felt like it was basically living in a museum, an outdoor museum where everything has a story — every street, every bridge, every arch," said Georgette Jupe, a 39-year-old American communications consultant who moved back to Florence in September.While Florence has long been the main port of call for American expats, real-estate agents and locals say more <a target="_blank" href="https://www.businessinsider.com/woman-moved-from-nyc-to-italy-at-24-loves-it-2023-3">newcomers are pouring into smaller towns</a>. On par with Boccheggiano or Montepulciano, where Davis and Chewning have ties, are the walled cities of Lucca and Siena.The influx of Americans, locals said, can be at once a booster of fortunes and an irritating imposition. They bolster the property market: Home prices in Lucca went up 6% from 2021 to 2022, in part due to foreign investment, according to real-estate consulting firm Knight Frank. Americans hire property managers and caretakers; they spend money in stores, at bars, and in restaurants.But some Italians worry about the outsize role Americans play, especially in Florence. Dozens of American universities have outposts in the city, attracting roughly 15,000 college students each year. American tourists love Florence, but their presence has consequences — like a sharp increase in the number of Airbnbs that the Associated Press reported makes it hard for <a target="_blank" href="https://apnews.com/article/european-tourism-summer-travel-pandemic-recovery-ee4416b151618fce3bf6cb5e3ff24d99">local doctors to afford to live</a> near the city center.Other downsides to the region's popularity, some residents added, include being priced out by the deeper-pocketed newcomers, and more mundane concerns like traffic and crowds.For many Americans, though, Tuscany remains a dream.Davis said locals often assume she's on vacation. When she tells them that she owns a home in Boccheggiano, they're confused."They're like, 'Why would an American want to come and live in such a tiny town?'" she said. "When we tell them it's the quality of life or it's the slow pace or the people — or whatever — they just say, 'Oh, we've always dreamed of moving to California.'"<h2>American interest in Tuscany is on the rise</h2>Throughout the pandemic years, Americans have <a target="_blank" href="https://www.businessinsider.com/american-moved-to-istanbul-loves-it-cheap-cost-of-living-2024-1">flocked to Europe</a>, seeking more affordable lifestyles with more <a target="_blank" href="https://www.businessinsider.com/moved-from-us-europe-escape-american-hustle-culture-2023-11">manageable paces</a>.Tuscany has its own charm. Relatively sequestered from the hustle and bustle of Rome or the crowded canals and alleyways of Venice, Tuscany's rise in 21st-century popular culture is often tied to Frances Mayer's 1996 memoir "<a target="_blank" href="https://www.businessinsider.com/diane-lane-says-no-under-the-tuscan-sun-sequel-2020-10">Under the Tuscan Sun</a>: At Home in Italy," about a woman who moves to Italy after a divorce, buys a dilapidated farmhouse, and finds love again.Almost 30 years later, it's easy to see the region's continuing allure. Numbeo, a data provider that uses self-reported stats to track the cost of living worldwide, says it's <a target="_blank" href="https://www.numbeo.com/cost-of-living/country_result.jsp?country=Italy">nearly 20% cheaper</a> to live in Italy than in the US, on average. Inflation <a target="_blank" href="https://www.cia.gov/the-world-factbook/countries/italy/">has also risen at a slower clip</a>, and average life expectancy is <a target="_blank" href="https://www.cia.gov/the-world-factbook/countries/united-states/">a few years longer</a>.Michele Capecchi, a lawyer in Florence who helps Americans secure Italian citizenship, opens his inbox every Monday morning to find about 150 new emails — roughly a third of which are from Americans seeking help in relocating to Italy."You read about Italy, and the sun, the culture. Of course, the bureaucracy doesn't help," Capecchi said. "But the <a target="_blank" href="https://www.businessinsider.com/american-living-in-italy-thankful-for-healthcare-for-daughter-2023-12">standard of living</a>, the cost of living — there are multiple factors that make Italy very attractive for a lot of people."Americans can stay in Italy visa-free for up to 90 days. After that, non-residents need to obtain a permit of stay, according to the <a target="_blank" href="https://travel.state.gov/content/travel/en/international-travel/International-Travel-Country-Information-Pages/Italy.html#:~:text=All%20non%2Dresidents%20are%20required,stay%20(permesso%20di%20soggiorno).">US Department of State</a>.Erin Lewis, an American yoga instructor who has lived in Italy full-time since 2015, currently lives near the Tuscan city of Chiusi. Lewis, 43, and her partner, whom she met in Italy, bought land and broke ground on a house in 2020."I had no Italian blood, but I just felt like somewhere deep down, maybe I was an Etruscan in a past life or something," said Lewis, referring to an ancient people who inhabited the area millennia ago. "I just felt totally at home and wanted to find a way back."<div type="image" title="A woman posing by a home." height="1886" width="2048" msid="108162366" hostid="261" sizebytes="215076"></div>In recent years, more American friends of Lewis' have sought her advice about making the move to Italy themselves. Many are hoping to get away from <a target="_blank" href="https://www.businessinsider.com/why-i-moved-from-texas-to-italy-right-before-retirement-2023-9">America's tenuous political landscape</a> and the plague of gun violence, she said.The number of Americans registering to live in Italy is indeed rising, data show. It jumped from 3,951 in 2019 up to 6,813 in 2022 (the most recent year for which data is available) — a 42% increase in just four years, according to the Italian National Institute of Statistics. The number of Americans specifically calling the region of Tuscany home increased by 6% between 2019 and 2023, growing from 2,193 four years ago to 2,323 now, according to the institute's foreign census data.Italian home-listing website <a target="_blank" href="http://gate-away.com">Gate-away.com</a> told BI that 29% of its inquiries in 2023 came from Americans. And 20% of those inquiries — the most of any region — were for properties in Tuscany.Danilo Romolini, a specialist in Italian luxury home sales at Christie's International Real Estate, said that 40% of new requests he fields come from the US — a figure that's been on the rise during the pandemic years.Emboldened by the dollar's recent strength, he added, some buyers are even confident enough to pull the trigger, sight-unseen. Recently, he sold a more than 4,000-square foot farmhouse with sweeping views of the Val di Chiana and a listing price of 1.6 million euros ($1.7 million) to an automobile-industry professional from Austin, Texas.<h2>Locals' response to the influx of Americans is mixed</h2>Luca Tudor runs AJ Tuscany, an upscale jewelry boutique on Montepulciano's steep main artery, Via di Gracciano nel Corso.Tudor, who's called the region home since he was 12, says the arrival of so many Americans — a phenomenon that's become "bigger and bigger in the last two, three years" — is helping keep the ancient cities that dot the landscape from turning into ghost towns."A lot of people love what is called 'piazza life,'" Tudor, 33, explained, "which means getting into your own apartment and never taking the car again."Sam D'Avanzo, a 29-year-old Florence native who owns a nightclub and concierge travel service in the city, said the influx of American residents has buoyed local lifestyle and entertainment businesses.Americans may eat out as often as two or three times a week, he said, whereas Tuscans might only dine out a few times a month. In a typical meal, he added, Americans tend to spend 30% to 40% more on food and drink than Italian diners do.<div type="image" title="A look through an arch at a town square in Tuscany, Italy." height="1667" width="2500" msid="108162368" hostid="261" sizebytes="485270"></div>Some family friends of D'Avanzo's from Houston, Texas, recently bought a five-bedroom apartment in Florence's historic center, he said. Now they live there year-round.Not all locals seem so enthused."For everyone who will say that international investors or people deciding to move their life here is a good thing for our economy, you will find someone there that says they are actually depriving Tuscany or local citizens of entire pieces of their city," Capecchi, the Italian lawyer, said.One area where tensions appear to be running high is in schools, which have become so inundated with inquiries from foreign families that some have been relegated to waiting lists, Capecchi added.In years past, many American families would come for a year or two to <a target="_blank" href="https://www.businessinsider.com/mistakes-americans-make-when-moving-to-italy-2024-1">soak up Italian culture</a> before moving home, but now some are staying longer.At the International School of Florence, which has served Florence's English-speaking community since 1952, 27% of this year's class is made up of American students, versus 23% last year and fewer than 20% during pre-COVID times, according to the school's admissions office. In conversations with administrators, the admissions office added, parents often cite quality of life and alarm over US school safety as reasons they've made the move."We are reached by a lot of families who say, 'We're sick and tired of having our kids having to do shooting drills in the school,'" Capecchi said, adding that some families have likened attending US elementary schools with metal detectors to going to the airport.In private Facebook groups for Italians, some locals vent about more cumbersome summertime traffic getting in pedestrians' way. "A lot of locals say that a place like Montepulciano cannot handle all those tourists because it's a small city," said Tudor, the jeweler.Tourism alone, though, doesn't seem to account for the increase in Americans since pandemic lockdowns started to subside. In fact, tourism numbers haven't quite rebounded to pre-COVID levels, according to data from Federalberghi, an Italian hospitality industry trade association. In 2019, before the pandemic, Tuscany received 1.05 million tourists. In 2022, it welcomed 956,000 visitors.<div type="image" title="Pedestrians and bicyclists navigating through a town square in Florence, Italy." height="1667" width="2500" msid="108162369" hostid="261" sizebytes="572798"></div>Some American residents who are staying for the long term seem aware of the effect they've having."A lot of locals have seen themselves priced out of rentals," said Jupe, who returned to Florence in 2023 after a three-year stint in Switzerland. She conceded that some locals <a target="_blank" href="https://www.businessinsider.com/i-bought-a-cheap-house-in-italy-sicily-listings-2023-7">struggle to find affordable properties</a> to rent or buy: "There are so many people that want to live here. And so, of course, that can cause a bit of resentment."<h2>Newcomers also bring new opportunities</h2>Bendetta Ercolani, 31, lives in an apartment block in Montepulciano where she's the only Italian. One other resident is Albanian, she said, while the remaining two units are home to American families.Her family owns a winery that has used traditional methods to produce their vintages for generations. But newcomers from the States have even local stalwarts like the Ercolanis contemplating new opportunities.In 2021, Cantina Ercolani debuted its first sparkling wine. It was a decision partly influenced by Americans, Ercolani said, who were seeking a thirst quencher to cool off during sweltering Tuscan summers.The sparkler is made entirely from Sangiovese grapes harvested on the family's land. At first, she said, Cantina Ercolani tested a production of about 3,000 bottles, and now it's scaling up, with another 5,000 on the way.Americans, Ercolani said, "spend money and they appreciate the quality of the food and the wine that we have.""Tuscany," she added, is "like a brand."

More Americans are moving to Tuscany, where their money goes further, the pace is slower, and the wine flows freely

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> appreciated 10 paise to 81.54 against the US dollar in early trade on Friday as foreign fund inflows and a weak greenback in overseas markets boosted investor sentiments. At the interbank foreign exchange, the domestic unit opened up at 81.59 against the dollar, then gained further ground to quote 81.54, registering a gain of 10 paise over its previous close. In the previous session on Thursday, the rupee depreciated 38 paise to 81.64 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.17 per cent to 106.51. In the domestic equity market, the 30-share BSE Sensex was trading 88.29 points or 0.14 per cent higher at 61,838.89, and the broader NSE Nifty climbed 20.10 points or 0.11 per cent to 18,364. <keyword id="6438315" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net buyers in capital markets as they bought shares worth Rs 618.37 crore on Thursday, according to exchange data. Brent crude futures, the global oil benchmark, rose 0.61 per cent to USD 90.33 per barrel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-makes-a-positive-opening-tracking-gains-in-the-asian-markets-paytm-lic-among-the-stocks-to-watch-out-for/articleshow/95593276.cms">Sensex makes a positive opening tracking gains in the Asian markets – Paytm, LIC among the stocks to watch out for</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inox-green-energy-services-ipo-allotment-today-checkout-current-gmp-value/articleshow/95593914.cms">Inox Green Energy Services IPO allotment today: checkout current GMP value</a>

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Markets to remain shut on November 20 due to Maharashtra elections

BI India Bureau

Swiggy IPO subscribed to 2.13 times on last day of the offer

Ira Alok Puranik

FII flows remain erratic in 2023 so far while DIIs invest more than $10 billion

Bhakti Makwana

Small stocks reap big gains this year; BSE midcap index jumps 30%

PTI

Sensex, Nifty settle flat in subdued trading; Reliance Industries earnings eyed

PTI

Universities in India can now admit students twice a year on lines of foreign varsities: UGC chairman

ANI

FPIs return to Indian equities in the second half of 2022, but bond flows are still in the red

Rounak Jain

Rupee rises 13 paise to 81.82 against US dollar in early trade

PTI

Groundwater to get over 3 degrees warmer by century's end, threatening water quality and safety: Study

PTI

FIIs pump in ₹6,000 crore in 5 sessions as emerging markets turn attractive again

Bhakti Makwana

Rupee falls 13 paise to 81.43 against US dollar

PTI

More Americans are moving to Tuscany, where their money goes further, the pace is slower, and the wine flows freely

Jordan Pandy,Reed Alexander

Rupee gains 10 paise to 81.54 against US dollar

PTI

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