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After strong inflows in 2023, foreign portfolio investors (FPIs) turned net sellers in the first month of 2024, January. FPIs sold Indian equities worth ₹25,744 crore during the month on the back of a rise in US bond yields. Will the selling continue?
Jahangir Aziz, Head, Emerging Market Economics at JP Morgan, praises the Indian government's budget consolidation efforts, with the fiscal deficit lower than expected at 5.1%. He emphasizes the need for fiscal consolidation to stabilize India's debt. Aziz believes that the RBI will wait for the Fed to cut rates before doing so itself, as interest rate differentials with the US are currently low. He anticipates that once interest rate differentials narrow, there will be significant portfolio flows into emerging markets, including India, due to low ownership and positioning of emerging market as...
Nifty futures on the NSE International Exchange traded 3 points, or 0.01 per cent, higher at 21,958.50, hinting at a flattish start for the domestic market on Tuesday.
Nifty futures on the NSE International Exchange traded 20.50 points, or 0.10 per cent, higher at 21,283.50, hinting at a positive start for the domestic market on Wednesday.
Nifty futures on the NSE International Exchange traded 16 points, or 0.07 per cent, lower at 21,529, hinting at a negative start for the domestic market on Friday.