MONTHLY INFLOWS
Rupee falls 5 paise to 83.54 against US dollar in early trade
The rupee depreciated 5 paise to 83.54 against the dollar due to high crude prices, starting at 83.52. Positive equities, foreign fund inflows supported. Amit Pabari noted pressures like crude at USD 87. S&P's YeeFarn Phua mentioned fiscal deficit reduction need. NSE Nifty, Sensex surged; FIIs buying shares. Dollar index at 105.36, US yields at 4.35%.
FII stake in HDFC Bank falls below 55%, ADRs rally on likely inflows
HDFC Bank's shares surged, attracting billions, with FIIs reducing stakes. Analysts predict a significant increase in the MSCI index weight, potentially doubling inflows. The bank's NSE shares closed higher, reflecting positive investor sentiment.
India bond yields may see further uptick as US peers jump
Indian bond yields expected to increase amidst renewed Treasuries selloff. Benchmark 10-year yield likely to stay within 6.99%-7.03% range. U.S. yields rising, with expectations of a 46 bps rate cut by the Fed in 2024.
HDFC’s potential weight gain in MSCI index may bring $4-b inflows
HDFC Bank shines with a 16% rally, surpassing Sensex performance. Market awaits MSCI EM Index rebalancing news on August 13, fueling anticipatory speculation.
Gold prices may face headwinds from strong dollar, rising yields
Gold ended last week on a lower note, dropping to a two-week low due to a stronger dollar and higher bond yields, said Prathamesh Mallya, DVP- Research, Non-Agri Commodities and Currencies, Angel One. The dollar surged to a near two-month peak, making gold more expensive for non-dollar holders, while U.S. 10-year yields reached a near two-week high.
Rupee falls 11 paise to 83.45 against US dollar
The central government's fiscal deficit reached 3% of the annual estimates by May-end 2024-25. India's forex reserves surged to USD 653.711 billion, with FIIs selling shares worth Rs 23.09 crore. The RBI confirmed the increase in reserves, reflecting a positive economic outlook.
007 Effect! JPMorgan bond inclusion can attract $2-3 billion monthly FII inflows into India
Since October 2023, non-residents have invested nearly $15 billion in Indian government bonds, including $5 billion through USD-settled, INR-denominated supranational bonds. Starting from Friday, passive fund inclusion will begin at a rate of 1% per month, leading to total inflows of $25-30 billion by the time full weightage is reached.
Rupee rises 8 paise to 83.37 against US dollar in early trade
Market anticipates US inflation data, oil supply issues from Russia and the Middle East drive prices. The rupee strengthens against the dollar amidst market optimism and increased foreign investments.
India inclusion in JP Morgan Bond index from today, $25-30 bn flow expected. What it means
India, which has been on index watch since October 21, upon its inclusion will have the single highest duration across the index at 7.03 years, with an above average yield-to-maturity at 7.09%, a JP Morgan note said.
Rupee likely to draw support from expected inflows amid rise in US yields
Amidst market volatility, the Indian rupee faces uncertainties from unexpected dips and profit-taking motives. The inclusion of Indian bonds in the JPMorgan index drives interbank short positions, hinting at heightened intraday fluctuations. Rising U.S. yields pose challenges for Asian currencies, while offshore yuan and yen weaken, reflecting broader market shifts.
Bond Street to see $2-3 billion foreign inflows a month after inclusion in JP Morgan Index
"We have a different profile spread across clients. There are real money clients who may be investing in India off-benchmark. Then there will be the passive index trackers who will be the regular ones coming each month and we may see some large allocations come in intermittently. So, around $2-3 billion per month is what we expect," Parul Mittal Sinha, head - financial markets, India & co-head, macro trading, ASA, Standard Chartered Bank, told ET.
Rupee ends higher, mild inflows aid recovery from record low
The Indian rupee ended higher on Friday as mild inflows and exporter dollar sales lifted the currency after it hit an all-time low in the previous session.
China's yuan slips to fresh 7-month lows as outflows mount
China's yuan dips to a fresh seven-month low against the dollar due to portfolio outflows and speculation about the central bank's actions.
India drops seven notches in global FDI ranking, inflows down 43% in 2023
Global FDI fell 2% to $1.3 trillion in 2023 amid an economic slowdown and rising geopolitical tensions. FDI flows to developing countries dropped 7% to $867 billion. Tight financing conditions led to a 26% fall in international project finance deals, critical for infrastructure investment. “Among the top 20 host economies, the largest absolute drops were registered in France, Australia, China, the US and India, in that order,” it said.
Average SIP ticket size rises 2% in May to Rs 2,387
The average SIP ticket size has increased by 2% on a month-on-month basis to Rs 2,387 in May from Rs 2,341 in April. On a yearly basis, the same increased by 6% from Rs 2,259 in May 2023, according to a report by Geojit Insights.
Foreigners pull money out of EM portfolios after five months of inflows
Foreigners pulled money from emerging markets in April, with outflows from Indian and Indonesian stocks leading to a -$0.7 billion net outflow. China equities also saw small outflows in April.
Indian rupee rallies to two-month high on likely dollar inflows
The Indian rupee rose to a two-month peak on Friday, boosted by likely strong dollar inflows into domestic equities even as most Asian currencies declined pressured by a rise U.S. bond yields.
Over a dozen midcap MFs deliver alpha returns in 2024 so far; Quant Midcap Fund tops chart at 23%
April saw higher month-on-month inflows for midcap mutual funds. Inflows were lower compared to February and January. SBI PSU Fund added IEX in April.
MFs record net inflows for 38th month in a row, SIPs at new high
With corporates buying debt funds again at the start of the financial year, debt funds saw inflows of ₹1.90 lakh crore. Total average assets under management of the industry moved to a new high of ₹57.01 lakh crore, compared with ₹55 lakh crore in the previous month.
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