BNP Paribas said it has a cautious stance on the Indian markets amid lack of positive catalyst for further earnings upgrades amid slowing global demand, lofty valuations and a slowdown in retail flows
Financials and pharma stocks led the advance amid positive flows from foreign portfolio investors
Industry players said domestic funds decided to book profits on valuation concerns around strong influx of foreign flows
The Nifty, on the other hand, ended the session at 17,798, with a gain of 174 points, or 0.9 per cent
DII stake in BSE 500 companies up nearly 55% in seven years
The latest reading is well below this year's average of 20.7. Moreover, Monday's 8.8 per cent advance is only the 10th largest seen this year
FPIs had turned net buyers for the first time in July, after nine straight months of massive net outflows, which started in October last year
Between 2011-12 and FY22, the market value of FPI holdings had increased at an annualised rate of 16.5 per cent in local currency terms and a modest 11.5 per cent in US dollar terms
Rupee performs better than 11 emerging market currencies amid jump in US dollar index
This was way higher than a net investment of nearly Rs 5,000 cr by Foreign Portfolio Investors in entire July, data with depositories showed
Level last seen on Apr 5; indices up 17% since June 17 lows
As inflationary pressures unbind, corporate earnings growth will draw level, says Vinit Sambre, head-equities, DSP Investment Managers
Zee Entertainment Enterprises (ZEEL) has the biggest decline in foreign portfolio investor (FPI) holding among BSE 200 companies
Average stake down 40 bps from previous quarter at 22%
Set to approach Sebi, finance ministry for clarification
What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.
Fin Nifty ADTV is still a fraction of the flagship Nifty and Bank Nifty indices, which have clocked an ADTV of Rs 40,000 crore this year
Drop in number of firms invested in comes even as MFs' overall holding in stock market has been rising
The rupee has already lost 0.5% to the greenback this week, taking the depreciation for 2022 so far to 6.7%
The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment to attract dollars through banking deposits, ECB, FPI