Market Live Updates Today: Trends on SGX Nifty indicate a negative opening for the index in India
Oil slumps on prospects of emergency supply releases, Europe COVID-19 surge
US crude prices dropped in early trade on Monday extending big losses on Friday, after Japan said on the weekend it was considering releasing oil reserves to help dampen prices.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 3,930.62 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,885.66 crore in the Indian equity market on November 18, as per provisional data available on the NSE.
FPIs stock holding value soars to $667 billion in September quarter: Report
The value of the foreign portfolio investors’ (FPI) holdings in the domestic equities reached $667 billion in three months ended September 2021, a surge of 13 percent from the preceding quarter, according to a Morningstar report.
“At the end of the quarter ended September 2021, the value of FPI investments in Indian equities shot up sharply to $667 billion, which was considerably higher than the $592 billion recorded in the previous quarter, a spike of around 13 percent,” the report noted.
As of September 2020, the value of FPI investments in Indian equities had been $398 billion. However, FPIs’ contributions to Indian equity market capitalisation fell marginally during the quarter under review to 19 percent from 19.1 percent for the June quarter.
Forex reserves decline $763 million to $640.11 billion
The country’s foreign exchange reserves declined by $763 million to $640.112 billion in the week ended November 12, RBI data showed. In the previous week ended November 5, the reserves had decreased by $1.145 billion to $640.874 billion. It touched a lifetime high of $642.453 billion in the week ended September 3, 2021.
In the reporting week, the decline in the foreign exchange reserves was on account of a dip in foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India’s (RBI) weekly data released on Friday showed.
Economic Advisory Council expects a GDP growth of 7-7.5% in FY23
The Economic Advisory Council to the Prime Minister (EAC-PM) held its meeting on Thursday where it looked at the growth prospects of India’s economy in 2022-23 and beyond. The council members were optimistic about real and nominal growth prospects in 2022-23.
“Other than an element of the base effect, the contact intensive sectors and construction should recover in 2022-23. Once capacity utilisation improves, private investments should also recover. Therefore, members felt a real rate of growth of 7 to 7.5 percent and a nominal rate of growth of more than 11 percent in 2022-23 was likely,” the EAC-PM said.
Domestic air passenger volume spikes 70.5% to 89.85 lakh in October
Domestic air passenger volume spiked 70.46 percent in October to 89.85 lakh over the same month of 2020, DGCA data showed on Thursday.
The Indian carriers had flown 52.71 lakh passengers in October last year. It may be recalled that domestic traffic along with international flight services remained shut for two months until May 25, 2020, when scheduled air services were resumed in a graded manner. Scheduled international flight operations to and from India remain suspended as of now.