The first quarter posed challenges for Indian indices with the Hindenburg research report, the hawkish Fed, and the SVB crisis. The budget sparked hope, laying a foundation for sustainable domestic growth, albeit with the removal of indexation benefits on debt instruments.
After strong inflows in 2023, foreign portfolio investors (FPIs) turned net sellers in the first month of 2024, January. FPIs sold Indian equities worth ₹25,744 crore during the month on the back of a rise in US bond yields. Will the selling continue?
Union Finance Minister Nirmala Sitharaman laid emphasis on fiscal responsibility, thus giving boost to the debt market, maintained her stance on infra development, inclusive development, green ecosystem and research & innovation.