 "Flurry of block deals lifts cash trading market volumes from two-year lows")
A flurry of block deals has helped cash trading volume on Indian bourses recover from their two-year lows. The 30-day average cash market turnover had dropped to $5.9 billionmid-July — the lowest in at least two years.
With promoters and private equity (PE) shareholders offloading shares, the 30-day average turnover has improved to $7.3 billion — a near-three-month high.
The NSE Nifty50 Index jumped about 17 per cent from a mid-June low through the end of last week, although equity prices have fallen in India and globally this week.
The rebound coincided with optimism that the US Federal Reserve may ease up on its pace of monetary tightening, prompting a recovery in stocks the world over.
The recent rally has fuelled a $2-billion flurry of secondary offerings this month, with PE giants from Blackstone Inc. to KKR & Co. Inc. selling down their holdings or heading for the exit.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Quarterly Starter
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
Save 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%