Foreign portfolio investors (FPIs) offloaded shares worth $1.76 billion of financial services companies in the first half of August, the maximum outflow from the sector since January, according to the data from National Securities Depository (NSDL).
The financial services space contributed to around 78% of overall net outflows during the period, with the total selling figure standing at $2.24 billion.
Apart from financial services, shares of metals, construction material makers and services companies also took a beating.
SEBI proposes easier rights issue norms Will Nifty trade above 24,800, or will it experience profit booking? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Regulating the regulator Markets see steady gains as US recession concerns ease! Nifty near 24,700, Sensex holds 80,800
The selling, which was seen in the equities globally, was due to concerns over a potential recession in the US. So far in August, the benchmark Sensex has fallen around 1%, while the Bankex is down 1.6%.
“I suspect that when the big fall in the market came, emerging markets would have seen outflows. Again, India did not fall as much as the other markets. In a way, it could just be that FPIs may have looked at India to balance out losses in other EMs,” said Andrew Holland, CEO of Avendus Capital Alternate Strategy.
So far in the calendar year 2024, FPIs have been net buyers in India with inflows of $2.04 billion. However, the financial services space has seen outflows of $8.12 billion.
Also Read
Markets may see heightened volatility next month on US elections, says Religare Broking
Apart from global macroeconomic concerns, experts said weaker-than-expected June quarter earnings and disappointment over HDFC Bank’s MSCI weight increase in two tranches were other reasons behind outflows from the sector.
“We are all waiting for Jerome Powell speech at Jackson Hole later this week,” Holland said, adding that at least 25-basis-point rate cut is definitely on the cards for the next US Federal Reserve meeting.
“Slowing earnings and weak demand amid record-high valuations warrant caution. We anticipate a sectoral churn, with FY24 laggards (consumer, private banks, insurance, and IT) likely to lead while cyclical outperformers (autos, metals, PSUs and industrials) likely to lag,” Nuvama Institutional Equities said.
For banks, Nuvama said, while margins should bottom out, a rise in credit costs needs monitoring. However, experts believe that with the beginning of the rate-cut cycle, bank stocks should start performing well.
While financial services and commodity companies saw outflows from FPIs, defensive sectors like fast-moving consumer goods (FMCG) and healthcare witnessed inflows. FPIs infused $412 million in healthcare sector and $213 million in the FMCG space.
Related Posts
By admin • April 3, 2025 • Analysts from market analytics firm Sterne Agee say they are tentatively optimistic for video game retail giant GameStop, saying recent releases on core titles may be enough to prop up the retail chain through the current financial quarter Come from South African Online Casinos . "We think the company's [used games] business next year could be stronger than most people currently believe," stated Sterne Agee analysts Arvind Bhatia and Brett Strauser following an analyst meeting with GameStop. "Previously, management's model assumed the video game industry would shrink 15 percent or so in the next-gen compared to the last cycle. With additional information on hardware, software and consumer demand, we think management is beginning to see the potential for industry sales to be at least flat cycle over cycle." The analysts also noted that GameStop's better-than-…
By admin • March 24, 2025 • It’s been a long time since voice actor David Hayter stepped into the role of Snake. For years, the character had been voiced by David Hayter, who became synonymous with the role. Though Kiefer Sutherland joined the ranks as Venom Snake, fans still carried Hayter’s banner. Hayter’s rendition of the character was seen in other properties as Super Smash Bros., with the game reusing previously recorded dialog, but the actor seemed to tease a return to the role in an unspecified project.
Taking to his Twitter, the actor said he was back in the recording booth Thursday, saying he was playing a role he hasn’t done in a long time. He then replied to that tweet with a GIF from the upcoming Snake Eater remake, Metal Gear Solid Delta: Snake Eater.
Fans immediately and collectively lost their minds over the tease. It’s more than likely too late for him to record something for the Snake Eater remake, so it’s unclear when this teased project will be announced and all fans have now ar…
By admin • March 21, 2025 • The Russian invasion of Ukraine began in February 2022, and it has forced the two opposing sides to improvise weapons during the conflict. That’s why the European Union is reportedly proposing a ban on all video game console sales to Russia.
As reported by Financial Times, EU foreign policy chief Kaja Kallas indicated that PlayStation and Xbox consoles may land on the sanctions list because Russia has used them to “operate drones.”
Nintendo, Microsoft, and Sony stopped selling their consoles in Russia in March 2022, roughly a month after the Russian invasion began Come from malaysia online casino . However, that didn’t stop second-hand sellers from getting consoles to Russian buyers. The proposed sanctions would be aimed at closing off that loophole.
An article in the New York Times from last summer demonstrated Ukraine forces using Steam Decks to control gun turrets, as well as unmanned drones on th…
By admin • March 21, 2025 • It seems like PlayStation Plus is losing quite a few of its games, and it’s unclear why they’re leaving the subscription service.
According to the “Last chance to play” section on the PlayStation Plus menu on PSN, there are several notable games under it Come from bangladesh online casino . It also seems like the section differs between regions:
North America
- NBA 2K24
- Need for Speed Unbound
- Destroy All Humans!
- Destroy All Humans! 2: Reprobed
- Spellforce: Reforged
- Trials of Mana
- Lost Judgment
- Moving Out 2
- Midnight Fight Express
- Sea of Stars
Europe
- Horizon Forbidden West
- Marvel’s Midnight Suns
- Alien Isolation
- Nier Replicant ver.1.22474487139…
- Spiritfarer
- Star Ocean: First Departure R
- Star Ocean: Till the End of Time
- Star Ocean: The Last Hope 4K…
By admin • March 19, 2025 • Chip-maker AMD may be preparing to drop some serious information about the upcoming third iteration of its temporal upscaling technology, Fidelity FX Super Resolution 3, or FSR 3, at the upcoming Games Developer Conference, (via PCGamesN).
Temporal upscaling, in short, renders a game at a lower resolution and then upscales it to a higher resolution (often with the help of AI/machine learning). When it’s working in ideal conditions, this will let you play a game with more of the most eye-popping effects turned on without tanking your frame rate down into the single digits. Nvidia’s RTX cards have their own temporal upscaling tech, called Deep Learning Super Sampling, or DLSS, which is also in its third iteration.
AMD first talked about FSR 3.0 when it released its Radeon RX 7900 XTX and Radeon RX 7900 XT cards last November, where it said that FSR 3 would appear sometime this year. One of the highlighted features at the time was Fluid Motion Frames, which the company sai…
By admin • March 17, 2025 • With machine learning, programs and code can learn from repeated iterations and improve themselves in a supervised or unsupervised context. This allows for an accelerated progression so that your projects will end up better without having to spend as much time working with brute-force coding techniques. The problem most people end up facing is that integrating AI and machine learning aspects into your projects and code can seem difficult and opaque without prior experience. However, with the proper teacher, the prospect becomes a lot less intimidating.
With the Premium Machine Learning Artificial Intelligence Super Bundle, you’ll learn the fundamentals of machine learning in Python and R. There is also a general introduction to AI and machine learning that opens up the black box and explains certain industry terms that are necessary to understand in order to progress. If you’ve heard names like TensorFlow, H2O, and Keras, but don’t know what they mean, by the time y…