Foreign funds reduced their ownership of Indias largest staples company to 12.7% at the end of March, down from as high as 14.5% in June last year, according to data compiled by Bloomberg.
FIIs raised stakes in multiple IT stocks in Q4, hoping for a turnaround in FY25. However, they sold IT stocks in April, leading to a 4.4% drop in the Nifty IT index. Various companies and sectors were involved in these transactions.
Indian headline indices hit new highs fueled by auto, energy, and metal stocks. Bond yields rose impacting global markets. Earnings season kicked off with positive expectations for Nifty companies.
Dr Joseph Thomas from Emkay Wealth Management discusses Indian economy growth and corporate profitability. He analyzes market trends, including small & midcap valuation, and crude oil demand-supply factors affecting market dynamics. Dr Thomas further says: "The market yields are rising day by day and in this context, it is important to note that the rise in the indexes in the last three months has been quite rapid."