FPIs invest Rs 26,505 cr in equities in first six sessions of December

Foreign portfolio investors (FPIs) injected Rs 26,505 crore into the Indian equity markets in the first six trading sessions of this month on expectations of political stability after the BJP stormed to power in three major states and robust economic growth. This came following a net investment of Rs 9,000 crore in October. Before this, overseas investors withdrew 39,300 crore in August and September, data with the depositories showed. Going forward, FPI inflows are likely to continue, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. According to the data, FPIs made a net investment of Rs 26,505 crore in Indian equities in this month (till December 8). Kislay Upadhyay, the founder of FidelFolio Investments, attributed the FPI inflows to the outcome of major state elections that signalled political stability going forward.. "The indication of political stability after the 2024 General elections, strong growth momentum in the Indian economy, inflation

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Sebi to frame rules for REITs, InvITs issuing subordinate units to sponsors

Capital markets regulator Sebi is looking to come out with a framework for the issuance of subordinate units by REITs and InvITs to sponsors and their associates. Additionally, the regulator has proposed a framework for unit-based employee benefits (UBEB) in the context of REITs (real estate investment trusts) and InvITs (infrastructure investment trusts). The Securities and Exchange Board of India (Sebi) has sought comments from the public till December 29 on the proposals. Under the proposed framework, subordinate units can be issued only to the sponsor, its associates and sponsor group, such units should carry only inferior voting as compared to ordinary units and the units can be issued to the eligible entities in the initial offer or in any offering subsequent to the initial offer, Sebi said in its consultation paper. It further suggested that subordinate units can only be transferred inter-se amongst the sponsor entities. "Any issuance of subordinate units post initial offer

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Gold price climbs Rs 170 to 62,950, silver unchanged at Rs 77,200

The price of 22-carat gold rose Rs 150, with the yellow metal selling at Rs 57,700

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Stocks to Watch: Tata Steel, Vedanta, NMDC, IIFL Sec, Zomato, Banks, Auto

Stocks to Watch: The Securities Appellate Tribunal (SAT) has set aside the order by Sebi restricting IIFL Securities from taking new clients for two years

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Sharp downgrades likely to keep Paytm stock under pressure in market

The buy now, pay later (BNPL) business may moderate sharply with disbursements down by 15-18 per cent

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Stocks to Watch: Adani Wilmar, Delta Corp, Paytm, Bharti Airtel, IRCON, BEL

Stocks to Watch on December 7, 2023: As per reports, Warburg Pincus is offloading shares in Bharti Airtel and IDFC First Bank

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State-owned cos seen extending rally on PM Modi's expected re-election

Modi's government is spending billions of dollars on everything from roads and railways to defense, renewing interest in a sector that has for long been a straggler of India's $4 trillion stock market

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Broking industry adds 2.8 mn new investors in Nov amid surging stock prices

Also, a sharp U-turn in market secondary sentiment also helped draw new investors, said broking industry players

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Stock Market LIVE: Asia-pacific equities rebound; Crude oil dips to $77

Stock market live on December 6, 2023: At 7:15 am, the Nifty futures in Gift City were trading 85 points higher at 21,028

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Nifty resistance at 21,193; LIC, India Cement top buy calls by Vinay Rajani

LIC's share has broken out from downward sloping trend line on the weekly chart

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Derivatives segment ADTV falls in Nov, BSE gains F&O market share

The ADTV for NSE in the futures and options segment fell 2 per cent MoM to Rs 311.7 trillion, while that for the BSE rose 7.2 per cent to Rs 35.2 trillion

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US dollar gains back ground on rate bets; bitcoin breaches $42,000

The dollar index, which tracks the currency against six major peers, rose by 0.59% to 103.71, while the euro was last down 0.61% to $1.0815

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Market capitalisation of Bajaj Group tops Rs 10 trn for first time

All the five listed firms belonging to the late Rahul Bajaj-Group ended with gains amid a rally in the market

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Govt bond yields track US peers lower on expectation of political stability

The probability of a rate cut in March is above 66% and traders are near certain of a cut in May, which pushed the US 10-year yield to a three-month low. It was last around 4.25%

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Nifty resistance seen at 20,475-20,575; Bank Nifty likely to join rally

As per Ravi Nathani, the trading strategy for Nifty should be to book profit at resistance levels, adopting a cautious stance as the overall trend on charts remains bullish with strong signals

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