Quick Wrap: Nifty PSU Bank Index records a surge of 2.20%
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The Hindu
6 hours ago
- The Hindu
Equity investors cling-on as ‘smart money' leaves India
Net inflows into equity mutual funds increased 81% to ₹42,702 crore in July 2025, from ₹23,587 crore in the previous month, according to data from Association of Mutual Funds of India (AMFI). Net contribution into systematic investment plan increased 4.1% to ₹28,464 crore in the reporting month as against ₹27,269 crore. Commenting on the numbers, the Chief Executive Officer of AMFI Venkat Chalasani said that Indian investors were showing a lot of faith in India's growth story, while acknowledging the uncertainties from tariff, which he said were 'temporary.' 'They (Indian investors) are having confidence in the growth story of the country, and this volatility would be of a temporary nature. Probably this is what they are looking at, and therefore, positive This is why they are keeping their long-term investment intact and that's the reason why we have seen continuous flows,' said Mr. Chalasani in the call presenting the monthly data update. While Indian asset management companies and mutual fund houses have time and again assured the market about the 'India growth story,' foreign investors who have that as their investment thesis, have started exiting the market, according to an Elara Capital report. Sunil Jain, Vice President of Elara Capital, said that 'smart money' was moving out of the Indian markets. These are foreign funds which are focused completely on India with conviction on India's long-term growth story. These were the funds that fuelled the 2023-24 rally, which lasted till October 2024, after which Donald Trump's election victory changed sentiments. 'From then until March 2025, India witnessed a redemption cycle primarily in this smart-money bucket,' said in a report. The current pattern of redemptions is similar to the one noticed in March 2007 and April 2011, and the previous such instances were followed by a deterioration in the market, he said. Active India-focussed funds, which hold about $68 billion, are now moving towards more macro-focused Exchange Traded Fund allocation, Mr. Jain said in his research report. As of July 31 2025, foreign portfolio investors sold a net of ₹17741 crore in Indian equities. The divergence between domestic and foreign inventors, which was observed in September and October 2024, has re-emerged. A report by Motilal Oswal revealed a similar trend but for a different category—promoters. Promoters of private companies were also reducing their stakes in India to 46.9% in June 2025, which is 70 basis points on a quarter on quarter basis and 170 basis points on a year-on-year basis, the report found. Hard data also suggest that Indian markets may not be in a very happy place. After sustained positive returns for three consecutive months, Nifty 50 returns declined nearly 3% in July 2025.
Time of India
7 hours ago
- Time of India
Currency watch: Rupee slips 17 paise to 87.75 against US dollar; importer demand and higher crude prices weigh on sentiment
The rupee reversed early gains to end 17 paise lower at 87.75 against the US dollar on Monday, pressured by persistent importer demand for the greenback, a rebound in crude oil prices, and foreign fund outflows. Tired of too many ads? go ad free now At the interbank foreign exchange market, the domestic currency opened at 87.56 and traded in a narrow range of 87.48 to 87.75 before settling at the day's low. On Friday, the rupee had closed flat at 87.58 after recovering from intra-day losses, PTI reported. 'The rupee opened higher on a weak US dollar index and positive domestic markets but later pared gains due to firmer crude oil prices and FII outflows,' said Anuj Choudhary, Research Analyst, Commodities Research, Mirae Asset Sharekhan. He added that the local unit may trade with a negative bias amid uncertainty over trade tariff issues between India and the US. Persistent foreign portfolio outflows could weigh on the rupee, though a weak US dollar may offer support at lower levels, Choudhary said. 'Investors may remain cautious ahead of US inflation data this week. We expect USD-INR spot to trade in the 87.35–88 range,' he noted. Brent crude futures edged up 0.03% to $66.61 per barrel. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.10% at 98.28. Investors are also awaiting India and US CPI inflation readings and developments from the planned August 15 talks between US President Donald Trump and Russian President Vladimir Putin on the Ukraine war. India has reiterated Prime Minister Narendra Modi's position that this is 'not an era of war' and has consistently called for dialogue and diplomacy to end the conflict. Tired of too many ads? go ad free now In domestic equities, the Sensex surged 746.29 points to 80,604.08, while the Nifty gained 221.75 points to close at 24,585.05. On the reserves front, India's forex kitty fell by $9.322 billion to $688.871 billion for the week ended August 1, one of the sharpest weekly declines in recent months, according to RBI data. In the previous week, reserves had risen by $2.703 billion to $698.192 billion. Foreign institutional investors sold shares worth Rs 1,202.65 crore on Monday, exchange data showed. Traders also flagged pressure on the rupee from escalating trade tensions. On August 6, the US announced an additional 25% tariff on all Indian imports, doubling the total duty to 50% from August 27.
Economic Times
7 hours ago
- Economic Times
Muthoot Microfin returns to profit despite sharp year-on-year drop
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
