Fri, Feb 9, 2024 1:48 PM
Equity Mutual Fund inflows reach to 22-month high in January
A Flip by Shubhangi Gupta
Foreign portfolio investors (FPIs) resumed their selling streak in January after turning net buyers in December. So far this month, FPIs have sold nearly ₹12,000 crore worth of Indian stocks through exchanges. The change in sentiment reflects the impact of both global and domestic challenges, which is currently affecting overseas investors’ outlook on Indian equities.
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The pound dropped to a more than one-year low, stocks fell and gilts extended a fourth day of losses on concern the Labour government will struggle to keep the deficit in check as borrowing costs surge. Sterling fell for a third day, sliding as much as 1% to $1.2239, the lowest since November 2023. Gilts fell sharply at the open, with the 10-year yield rising as much as 13 basis points to 4.92%.
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Domestic gas allocations to Indraprastha Gas Limited (IGL) have been increased by 31% effective January 16, boosting the share of domestic gas in the CNG segment from 37% to 51%. This move is expected to significantly improve IGL’s profit margins as it benefits from lower-cost domestic gas. The increase comes after GAIL revised allocations, enhancing supply to meet rising demand.
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