Financials

Overseas investors have pumped in USD 1.55 billion in equity market so far this month, taking the total to over USD 15 billion since the beginning of the year.

As per the latest data, foreign investors have purchased stocks worth Rs 42,866 crore between November 3 and 14, while they offloaded shares to the tune of Rs 33,352 crore during the same period, resulting into a net inflow of Rs 9,514 crore (USD 1.55 billion).

Market analysts said overseas investors (foreign institutional investors, sub-accounts or foreign portfolio investors) are betting on the government’s reforms agenda.

Services exports rose 5.3 per cent to $12.94 billion in September 2014 as compared to the corresponding period last year.

However, import of services during the month fell 9.1 per cent to $6.17 billion against the year-ago period, data from the Reserve Bank of India showed.

In August 2014, services exports were nearly flat at $12.24 billion. Services import was up 7.5 per cent at $6.77 billion in August over the year-ago month.

Cumulative receipts of exports in services during April-September stood at $79.05 billion while cumulative payments (or imports) were at $43.04 billion.

The mutual fund industry is betting big on software companies as its equity exposure to the sector climbed to a fresh all-time high of about Rs 33,000 crore at the end of October.

This also marks the fifth consecutive rise in mutual fund (MF) industry’s exposure to software stocks.

Mutual fund is an investment vehicle that is made up of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets.

The growing volatility in the US and European markets after unpleasant jobs data coupled with levies on financial institutions for wrongdoing led foreign investors back to Indian shores in the previous week.

On a week-on-week basis, the foreign inflows increased by 28.61 percent at Rs.5,674.21 crore reported for the week-ended Nov 14 from Rs.4,411.93 crore in the previous week ended Nov 7.

The latest set of inflation and factory output numbers led the Indian equities markets to fresh highs in the week gone by, with the main index gaining more than half a percent in the weekly trade.

The benchmark Sensex was up by 0.63 percent or 178.03 in the week ended Nov 14 from its previous weekly close on Nov 7. The index closed at 28,046.66 points, while it had ended trade at 27,868.63 points points on Nov 7.

India’s foreign exchange reserves fell by $778.4 million to $315.13 billion for the week ended Nov 7, Reserve Bank of India (RBI) data showed.

The reserves had grown by $1.73 billion to $315.91 billion for the week ended Oct 31.

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, declined by $726 million at $289.63 billion in the week under review.

The foreign currency assets had risen by $2.03 billion at $290.36 billion in the previous ended Oct 31.

Quashing a RBI communication, Madras High Court bench here Friday said the apex bank cannot wash off its hand of the responsibility of regulating interest rates charged by non-banking financial companies (NBFCs) and asked it to look into the matter in terms of Fair practice Code as well as circulars issued by it.

Indian companies have raised more than Rs 8,200 crore through primary market route in the first half of the current fiscal, mainly for expansion plans and to support working capital requirements.

According to latest data available with market regulator Securities and Exchange Board of India (Sebi), companies mopped up a total of Rs 8,244 crore in April-September period of 2014, lower than Rs 8,987 crore mobilised in the year-ago period.

In the primary market, funds were raised through equity (IPOs and rights issue) as well as debt segments.

Prices of wheat and rice basmati rose upto Rs 100 per quintal at the wholesale grains market today on scattered buying from flour mills and stockists.

Maize also strengthened on increased demand from consuming industries.

Traders said pick up in offtake by flour mills and stockists against restricted arrivals from producing belts mainly led to the rise in wheat and rice basmati prices.

A benchmark index of Indian equities markets Friday was trading 40.24 points or 0.14 percent up in the early session as the auto sector gained.

Good buying was observed in auto and IT sectors, while selling pressure was seen in consumer durables sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,949.54 points, was trading at 27,980.88 points (at 09.16 a.m.) in the early session, up 40.24 points or 0.14 percent from the previous day’s close at 27,940.64 points.

The benchmark BSE Sensex on Thursday fell from all-time level to settle the day 68 points lower at 27,940.64 as investors became cautious after excise duty on petrol and diesel was hiked even as inflation cooled off and factory output grew in signs of economic recovery.

The Sensex rose in early trade on hopes of rate cut after inflation softened to 5.52% in October.

Three-month high industrial production growth of 2.5% in September also boosted the sentiment, brokers said.

Odisha has witnessed a fall in mining revenue.

The Odisha government collected Rs.2,343 crore as mining revenue by October end of the 2014-15 financial year against a target of Rs.3,275 crore.

The mining revenue has posted a fall of Rs.734 crore against the target forcing the government to hold a meeting with mine owners Nov 18.

The government would ask them to increase despatch of iron ore stocked at various places to increase the revenue.

A benchmark index of Indian equities markets Thursday closed trade provisionally 68.26 points, or 0.24 percent, down as oil and gas, bank and metal stocks declined.

However, healthy buying was observed in information technology (IT), healthcare and technology, entertainment and media (TECK) stocks.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,048.56 points, closed trade at 27,940.64 points (provisionally), down 68.26 points or 0.24 percent from the previous day’s close at 28,008.90 points.

A benchmark index of Indian equities markets Thursday was trading 65.37 points or 0.23 percent up in the early session as the consumer durables sector gained.

Good buying was observed in consumer durables, capital goods and auto sectors, while selling pressure was seen in oil and gas sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,048.56 points, was trading at 28,074.27 points (at 09.28 a.m.) in the early session, up 65.37 points or 0.23 percent from the previous day’s close at 28,008.90 points.

A benchmark index of Indian equities markets Wednesday touched a record high of 28,126.48 points, surpassing its previous high of 28,027.96 points of Nov 10.

The benchmark index, however, ended at 28,008.90 points, up 98.84 points or 0.35 percent from its previous day’s close of 27,910.06 points.

Healthy buying was observed in banking, automobile and fast moving consumer goods (FMCG) sectors, while selling pressure was seen in metal, healthcare and oil and gas segments.

A benchmark index of Indian equities markets Wednesday was trading 144.27 points or 0.52 percent up in the early session as the banking sector gained.

Good buying was observed in banking, auto and IT sectors, while marginal selling pressure was seen in metal sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,958.64 points, was trading at 28,054.33 points (at 09.30 a.m.) in the early session, up 144.27 points or 0.52 percent from the previous day’s close at 27,910.06 points.

Sebi chairman UK Sinha today said the existing listing agreement guidelines are being revamped and will be made into listing regulations shortly.

Speaking on the sidelines at a Morgan Stanley event here this evening, Sinha said, “the listing guidelines are being changed into listing regulations so that they have more force of law.”

The chairman also said the Sebi is working on new guidelines in the fields of prevention of insider trading and delisting regulation.

Swiss brokerage UBS on Tuesday said it is bullish on the Indian stock market and sees a massive upside to earnings, driven by better growth numbers, which will push the NSE benchmark index Nifty to 9,600 by next December.

“We remain bullish on the equities in 2015. The growth recovery underway will likely sustain current valuations, especially as it starts manifesting in both macro and micro data points.

External Affairs Minister Sushma Swaraj Tuesday sought investment from foreign and Indian entrepreneurs in the United Arab Emirates (UAE), highlighting her government’s “clear policies to facilitate business environment, transparency and speed” to “make India an investment and manufacturing destination”.

“Our focus is growth with good governance and transparency with an eye on manufacturing, infrastructure and trade,” she said in an interaction with the business community here.

The Empowered Committee of State Finance Ministers on the Goods and Services Tax (GST) Tuesday expressed the hope that the tax regime could be implemented by the proposed date – April 1, 2016 – notwithstanding their differences with the Centre over some key provisions.

After their meeting here, Committee chairman Abdul Rahim Rather said the Centre had written to the Committee suggesting that the threshold annual turnover for levying GST should be increased to Rs.25 lakh (Rs.2.5 million) from Rs.10 lakh (Rs.one million).

The benchmark BSE Sensex gained over 76 points in early trade today on sustained buying by foreign funds and retail investors amid a firming trend at other Asian bourses and hopes of further push to economic reforms by the government after recent Cabinet expansion.

The 30-share index, which had gained 6.10 points in the previous session, rose by 76.16 points, or 0.27 per cent, to 27,950.89 with infrastructure, realty, oil & gas, healthcare, PSU and auto stocks leading the rise.

The NSE Nifty also edged higher by 20.35 points, or 0.24 per cent, to 8,364.60.

A benchmark index of Indian equities markets Tuesday was trading 61.02 points or 0.22 percent up in the early session as the healthcare sector gained.

Good buying was observed in healthcare and auto sectors, while marginal selling pressure was seen in IT sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,911.25 points, was trading at 27,935.75 points (at 09.17 a.m.) in the early session, up 61.02 points or 0.22 percent from the previous day’s close at 27,874.73 points.

Snapping the three-day losing streak, the rupee today gained 12 paise at 61.50 against the dollar on fresh selling of the US currency by banks and exporters on the back of strong capital inflows.

A weak dollar in the overseas market also boosted the rupee value against the greenback, a forex dealer said.

The rupee resumed higher at 61.45 per dollar as against the last weekend’s level of 61.62 at the Interbank Foreign Exchange (Forex) Market.

It moved in a range of 61.43-61.51 a dollar before finishing at 61.50 per dollar, showing a gain of 12 paise or 0.19 per cent.

A benchmark index of Indian equities markets Monday touched a new high of 28,027.96 points, its fifth high in six trading sessions, but ended the day’s trade flat — barely 6.10 points or 0.02 percent up.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) had touched a high of 28,010 points in the intra-trade session Nov 5, surpassing its previous high of 27,969.82 points recorded Nov 3.

Debt Market, Funds, Fund mobilisation, SEBI, Corporate Debt, QIP, Companies IPO
Fund raising via debt placement falls 34% to Rs 38K cr in Oct
New Delhi: Fund mobilisation by Indian firms through private placement of corporate debt securities or bonds plunged by 34 per cent to just over Rs 38,000 crore in October.

In debt private placements, firms issue debt securities or bonds to institutional investors to raise capital.