2:20 pm FPIs in FY17:
More than 1,300 new foreign portfolio investors (FPIs) have registered with capital markets regulator Sebi in April-August of 2016-17, showing a sign of their willingness to be part of India’s growth story.
In the last fiscal, a total of 2,900 FPIs had received approval from Sebi.
The number of FPIs with Sebi approval increased to 5,626 at the end of August from 4,311 in March-end, reflecting an addition of 1,315 such investors, latest data from the Securities and Exchange Board of India (Sebi) showed.
FPI investors consider India as a preferred and stable market, given its macro-economic stability, long-term growth prospects and ongoing economic and social reforms, market experts said.
Besides, Sebi has decided to offer direct entry to well-regulated foreign investors for investing in corporate bonds, they added.
They had pumped in over Rs 36,000 crore in the capital markets (debt and equity) in April-August period.
Also read – Maruti Suzuki Q2 net rises 60% to Rs 2398 cr, revenue up 29%
2:00 pm Market Check: Equity benchmarks recouped losses in afternoon trade with the Nifty reclaiming 8600 level amid volatility ahead of expiry of October derivative contracts, supported by HDFC and ITC. However, auto, IT and Tata group stocks remained under pressure.
The Sensex was up 9.54 points at 27846.05 while the Nifty declined 14.90 points to 8600.35.
Experts expect the expiry of Nifty contracts for current series at around 8600 level.
Maruti Suzuki fell nearly a percent on profit booking as the stock already priced in stellar earnings. ONGC was also down 1 percent on profit taking after quarterly earnings.
European markets recovered early losses to trade marginally higher. France’s CAC, Germany’s DAX and Britain’s FTSE were up 0.2-0.4 percent.
Crude oil prices also gained strength after a flat trade. Brent crude was trading at USD 50.37 a barrrel, up 0.8 percent and US crude gained 0.6 percent at 48.48 a barrel.