Thu, Jul 4, 2024 6:53 PM
Can Chipotle Get Back to $1,000 After Its Stock Split?
A Flip by Avya Verma
Foreign investors injected over Rs 7,900 cr into Indian equities in first week of July, bringing the total FPI investment in equities to Rs 1.16 lakh cr this year. Last month, FPIs made net inflow of Rs 26,565 cr, driven by political stability & market rebound. Despite earlier withdrawals due to poll jitters & tax treaty concerns, experts believe India remains attractive investment destination.
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📌Equity markets are expected to be influenced by global trends, foreign investors' activities, and upcoming earnings reports from IT giants TCS and HCL Tech. 📌The markets may see consolidation after last week's record rally, with the BSE Sensex hitting 80,392.64 & Nifty reaching 24,401. 📌Earnings season kicks off, with key companies set to announce Q1 results, impacting investor sentiment.
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India's balance of payments data for Q4 and FY2024 shows a current account surplus of $5.7 billion (0.6% of GDP), driven by higher service exports and remittances, and a merchandise trade deficit narrowing to $50.9 billion. The full-year deficit stands at $23.3 billion (0.7% of GDP), a significant improvement from $67.1 billion last year. However, the surplus indicates depressed domestic demand.
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