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FPI: FPIs switch to 'defensives' with Covid 2.0 taking a toll


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Mumbai: Discretion is the better part of valour, Shakespeare said about five centuries ago. For overseas investors, it’s still the best strategy to make money in covid-crippled India.
As an unprecedented viral wave shuts the country down for the second consecutive summer, discretionary expenditure has visibly ebbed and so has FPI enthusiasm for business-as-usual stocks that rely on normal mobility. Instead, this block that owns more than a fifth of India’s market value is now buying up the traditional ‘defensives’ products one can’t live without.
So, consumer staples and IT are featuring more prominently on FII buy lists while BFSI and autos get the short shrift. Overseas investors bought $376 million (Rs 2,800 crore) and $201 million (Rs 1,517 crore) worth of consumer staples and IT stocks, respectively, in April. ....

Sriram Velayudhan , Abhilash Pagaria , Bank Nifty , Edelweiss Alternative Research , Edelweiss Alternative , Nifty Consumption , ஸ்ரீராம் வேலாயுதன் , வங்கி நிஃப்டி , ஏதெல்வேஸ்ஸ் மாற்று ஆராய்ச்சி , ஏதெல்வேஸ்ஸ் மாற்று , நிஃப்டி நுகர்வு ,

Quick Wrap: Nifty Auto Index declines 2.89%, NIFTY Tumbles 1.32%


Nifty Auto index ended down 2.89% at 9813.15 today. The index is up 7.00% over last one month. Among the constituents, TVS Motor Company Ltd gained 5.97%, Maruti Suzuki India Ltd dropped 5.03% and Amara Raja Batteries Ltd fell 4.58%.
The Nifty Auto index is up 20.00% over last one year compared to the 13.28% surge in benchmark Nifty 50 index. In other indices, Nifty Consumption index is down 2.63% and Nifty IT index has slid 2.59% on the day. In broad markets, the Nifty 50 has slid 1.32% to close at 13634.6 while the SENSEX is down 1.26% to close at 46285.77 today.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.) ....

Maruti Suzuki India Ltd , Motor Company Ltd , Amara Raja Batteries Ltd , Nifty Auto , Company Ltd , Nifty Consumption , Capital Market , மாருதி ஸஸூகீ இந்தியா லிமிடெட் , மோட்டார் நிறுவனம் லிமிடெட் , அமரா ராஜா பேட்டரிகள் லிமிடெட் , நிஃப்டி ஆட்டோ , நிறுவனம் லிமிடெட் , நிஃப்டி நுகர்வு , மூலதனம் சந்தை ,