As foreign institutional investors (FIIs) turned net sellers in April, snapping their six-month buying spree, amid a violent and overwhelming outbreak of the second Covid wave in India, there were two sectors that still caught their fancy. The FIIs, which pulled out $1.29 billion from the equity markets last month their highest ever since March last year, still ploughed money in the FMCG and real estate sectors for two months in a row, shows a report by Edelweiss Securities. The two sectors which continue to see highest net inflow consecutively for the two months are – FMCG and Realty, the Edelweiss report compiled by Abhilash Pagaria said.
The Reserve Bank of India (RBI) will give banks Rs 50,000 crore to enable them to lend further for healthcare needs in the Covid-19 crisis, said governor Shaktikanta Das on Wednesday. “India has mounted a valiant defence against Covid-19. The RBI will continue to monitor the emerging situation and deploy all instruments at its command, said Das at an unscheduled briefing where he listed measures the central bank will take to support the economy during a second wave of infections. “On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022. Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients,” said Das.
D-Street reads good signals in RBI package for Covid 2.0, avoidance of fresh moratorium
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Analysts said RBI’s assurance on policy support would soothe market sentiment, but said any upside from here on will be limited.
The 30-pack remained steady even after the RBI press conference.
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NEW DELHI: RBI Governor Shaktikanta Das on Wednesday announced a slew of liquidity and restructuring measures, aimed at offering emergency relief to the Covid-hit MSMEs and small borrowers and ease access to healthcare services.
Analysts said RBI’s assurance on policy support would soothe market sentiment, but said any upside from here on will be limited.
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