Business & Investment

FII: ETMarkets Morning Podcast: Stocks with a lot of FII are a big hit with current sales

Hello! Welcome to ETMarkets Morning. A show about money, business and markets. I’m Sandeep Singh, and this is what we have to start your day with.

>> FII-Heavy stocks are a big hit with current sold out
>> Deutsche Bank avoids Adan bonds over green concerns
>> Sebi wants minority investors to say in appointing executives
>> Federal Reserve Board promises to keep interest rates low over the long term

And there are more. But first, let’s take a look at the state of the market.

>> Singapore Exchange’s nifty futures fell 102 points, or 0.73 percent, at 8:40 am. This indicates that more pain can occur on Daral Street.

Asian equities fell on Thursday following a sharp fall on Wall Street amid growing concerns over valuation expansion in the stock market. Japan’s Tokyo Stock Price Index fell 1%, Hong Kong’s Hang Seng Index fell 0.9%, and South Korea’s Kospi Index fell 0.9%. Australia’s S & P / ASX 200 fell 2.3%.

On Wall Street, the benchmark S & P 500 index fell nearly 2.57%. The Dow fell 2.05% and the Nasdaq Composite fell 2.61%.

In currency
The rupee rose two paisas to settle at 72.92 against the US dollar on Wednesday prior to the outcome of the US central bank meeting.

The dollar has expanded its progress. The euro fell 0.1%, the yen fell 0.2%, and the offshore yuan fell 0.2%.

In the oil market
Crude oil prices have fallen. WTI crude fell 0.5% to $ 52.57 a barrel.

And with bullion
Gold prices in Delhi fell from 231 rupees to 48,421 rupees per 10 grams on Wednesday, and silver fell from 256 rupees to 65,614 rupees per kg. In the international market, yellow metal fell 0.4% to $ 1,837.58 an ounce.

Overall, the trading system on Daral Street looked weak. On Wednesday, Nifty tested a 34-day exponential moving average. Analysts said this level could be an important support for 50 packs.

We’ll let you know now about some of the top news we’re tracking at this time.

… concerns about a reversal of flows from foreign funds have focused on foreign-owned equities. Of the 60 stocks in the NSE500 Index, where FPI holds 25% or more, 40 stocks have been revised between 10% and 30% from their January highs. Analysts say some of the actively managed foreign funds may be cutting some of these stocks.

… The Federal Reserve Board promised to maintain a low interest rate policy on Wednesday, even after the economy maintained a recovery from the viral pandemic. The US central bank said economic and job market improvements have slowed in recent months, especially in industries affected by the rampant pandemic. Authorities said they would continue to buy Treasury and mortgage bonds to keep benchmark short-term interest rates at near zero, curb long-term borrowing rates and support the economy.

… market regulator Sebi sought to empower minority shareholders on the appointment of key executives on Wednesday, and board candidates rejected by ordinary shareholders are statutory members of the company overseeing director-level compensation. Proposed to be revoked only after detailed justification by the Society. The proposal was published in a discussion paper and Sebi accepted the proposal from the public until February 12.

… HUL said the worst on demand was over after reporting a 20% increase in sales and a 19% increase in profits in the December quarter. Revenue increased 7%, excluding the GSK Consumer business, which was consolidated in April. This is also supported by a decline in the same quarterly base last year, when the company’s growth slowed the most since democratization.

… Gita Gopinath, Chief Economist at the IMF, said the Indian economy may not return to pre-Covid growth levels by 2025, and the pace of recovery will depend on the next budget reform. “Based on the numbers up to 2025, there is a big distance, but it’s not just India, there are many countries in its bucket that haven’t filled the gap,” she said.

… Deutsche Bank acts as a $ 500 million bond issue arranger for the Port of Adani and the Special Economic Zone, which began Tuesday due to environmental issues reported by the Frankfurt-based Lender Sustainability Commission. Your internal permission has been denied. The Adani Group company was in talks with a group of international banks to act as an arranger on this issue. Deutsche was part of those discussions, but was later withdrawn.

Finally, the latest information on all the stocks that are making noise this morning

>> PowerGrid submitted its first InvIT IPO (Initial Public Offering) draft paper on Wednesday for nearly 8,000 chlores, making it the first state-owned company to monetize its assets through this route.

>> PNB Housing Finance has updated its plans to raise equity through qualified institutional investors or QIPs as the proposed rights issue / priority issue is at a standstill.

>> Aditya Birla Fashion & Retail (ABFRL) has acquired 51% of Sabyasachi Couture for 398 rupees, founded by fashion designer Sabyasachi Mukherjee.

>> Negotiations between Ssangyong Motor’s largest shareholder, M & M, and US-based Her Automotive to sell its stake in a Korean car maker may be hampered by differences.

That’s it for now. Keep track of for all market news of the day. Have a great day first!Bye bye

FII: ETMarkets Morning Podcast: Stocks with a lot of FII are a big hit with current sales FII: ETMarkets Morning Podcast: Stocks with a lot of FII are a big hit with current sales

Back to top button