RISING interest rates in the US and Europe have resulted in FIIS pulling out a whopping $21.3 bn (₹1.62 lakh crore) from local shares in the calendar year to date, the highest-ever net sale by foreign investors in Indian stock markets in less than five months.
The FII selling has dragged nearly half of Nifty 50 shares into a bear market.
"When interest rates rise in developed markets such as the US, the risk-free rate of return drastically reduces, causing foreign investors to dump emerging market shares and head for the safety of the dollar," said Sudip Bandyopadhyay, group chairman, Indi-trade Capital.
This story is from the May 25, 2022 edition of The New Indian Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 25, 2022 edition of The New Indian Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
UNLOCKING YOUTH WELLNESS
WE all carry mysteries within ourselves.
DREAMS IN THE BALLOT
As these first-time voters are all set to get inked, they put forth their unapologetic views on their expectations for the upcoming government, and the change they want to see in different aspects of society
Road to Paris: Shooters set for all-important OST
INDIAN shooters have been spot on in the ongoing Olympic cycle.
BATMAN & BUTTLER: DREAM RUNS
ON the penultimate day of the Masters, Max Homa, the American golfer, was 5-under, chasing Collin Morikawa and Scottie Scheffler.
Bowlers shine to help DC sink GT
ON a slightly sluggish fresh black soil surface, Gujarat Titans came up a cropper against the Delhi Capitals.
Spanish nightmare: PSG, Dortmund win
PSG'S emphatic victory over Barcelona keeps alive the French club's dream of ending the Kylian Mbappe era by lifting the Champions League trophy at Wembley in June.
Crude import bill declines by 16% in FY24
INDIA'S crude oil import bill has declined substantially, nearly 16%, in financial year 2023-24, even though quantity of imports remained almost same during this period compared to the previous year.
VIL secures ₹5,400 cr from anchor investors
Allots 491 crore shares at ₹11 each; GQG Partners, Fidelity, UBS Fund, Jupiter Fund, Australian Super major investors
Punit Goenka to head domestic ops, son Amit global biz
A day after withdrawing its petition seeking to implement the called off $10 billion merger with Sony from the NCLT, the Zee Entertainment board on Wednesday cleared an organisational revamp with the chief executive officer Punit Goenka taking the control of the domestic operations.
Women in tech workforce in global capability centres likely to go up to 35% by '27
FROM the current 25%, number of women in tech workforce in global capability centres (GCCs) is projected to go up to 35% by 2027.