BUSINESS
India registered FII equity inflow of $12 billion for June quarter
On the other hand, countries such as South Korea, Taiwan and Indonesia have received far less inflows compared to India, Jahnavi Prabhakar, Economist at Bank of Baroda, said in a report. Notably, the US and Thailand have seen FPI moving out of their respective countries. However, it is interesting to note that Japan has received a strong FPI inflow to the tune of $66 billion.
ICEA sets up taskforce to take India-US electronics trade to $100 bn in a decade
The warmth in the India-US relations was perceptible during the interactions with US National Science Foundation (NSF) and the setting up of the initiative on Critical and Emerging Technology (iCET) that will aid in cooperation in futuristic areas such as artificial intelligence, quantum computing, space exploration, semiconductors and defence technology.
Sensex vs BSE: The 'capital allocation' multi-baggers
The David vs Goliath fight between Sensex and other BSE stocks: But, one puzzle stares us straight in the face. While the Sensex has compounded at an annual growth rate of almost 13 per cent in the last five years, a look at the rest of the BSE stocks outside the Sensex that have been listed for the last five years shows an annual decline of 1.16 per cent.
Momentum can take market higher but analysts caution of sharp correction
"Momentum can take the market higher; but at high valuations risk is high. Some presently unknown negative developments can trigger a sharp correction. So, even while remaining invested in the market, investors have to be cautious," V. K. Vijayakumar said. The BSE Sensex scaled mount 65,000 on Monday led by HDFC and Reliance Industries.
Deteriorating macro and wage hikes to impact IT companies' earnings
Sequential EBITM performance will largely reflect the wage hike cycle, while moderation in attrition, pyramid rationalization, operating efficiencies, freshers getting billed and favorable cross-currency would support improvement in underlying margin.
Sensex scales 65K but analysts say valuations getting stretched
Reliance was the top gainer in Sensex up by 2.32 per cent. HDFC twins and SBI among financial stocks were among the main gainers.V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said the ongoing rally in global stock markets.
Private equity investments in June quarter decline 33%
The investment amount however rose 7 per cent compared to the immediate previous quarter which saw $5.7 billion being invested across 181 deals, shows data from Venture Intelligence.“Clearly, Big Ticket Private Equity investors have far more confidence in investing.
SBI launches interoperable cardless cash withdrawal facilities
The facility was launched by SBI as part of the 68th Bank Day celebrations. With 'YONO for Every Indian', bank customers will have access to UPI features like Scan and Pay, Pay by contacts, Request money, among others on YONO's new avatar. "This milestone upgrade further expands SBI's commitment to providing inclusive and customer-centric digital banking services to every Indian citizen," a statement issued by SBI said.
Housing loans' share in total advances rose, says RBI report
The report, which is a half yearly account of banks' health in the country, also noted that the housing sector in itself has seen a healthy growth, as sales grew by 21.6 per cent in January-March period of 2022-23. Also several new launches too have added to the sector's growth, said the report, released last week.
Good rains and new highs would lead to further upside
BSESENSEX gained 1,739.19 points or 2.76 per cent to close at 64,718.56 points while NIFTY gained 523.55 points or 2.80 per cent to close at 19,189.05 points. The broader indices gained as well and saw the BSE100, BSE200 and BSE500 gain 2.70 per cent.
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