Short Change: FIIs infuse over $20 bn so far in 2014; $5 bn in June alone

The net inflows of overseas funds into Indian markets so far this year have reached $20.5 billion (Rs 1.23 lakh crore).

By: Press Trust of India | New Delhi | Mumbai | Published: June 23, 2014 2:22 am

Continuing to bet big on reforms agenda of the new government, overseas investors have poured in more than $5 billion into Indian markets so far this month – taking the overall net inflows since beginning of 2014 to over $20 billion. Foreign investors have pumped in $2.35 billion (Rs 13,918.29 crore) into equity markets, and further $2.93 billion (Rs 17,357.43 crore) in debt securities till June 20, shows the latest market data. The net inflows of overseas funds into Indian markets so far this year have reached $20.5 billion (Rs 1.23 lakh crore). Of this, investments totalling $9.95 billion (Rs 59,723 crore) have come into equities, while debt markets account for $10.5 billion (Rs 63,476 crore).

‘Market to see volatility amid F&O expiry, oil price movement’
Indian stock market is expected to witness volatility as traders roll over positions in the futures & options (F&O) segment, while movement in crude oil prices linked to the Iraq unrest and the progress of monsoon will set the tone this week. Some of the other factors that are likely to impact stock market movement include, trend in global equity markets and investment activity of foreign institutional investors. On Friday, the Sensex ended at 25,105.51 and the Nifty at 7,511.45 — both values being respective two-week lows. The near-month June 2014 F&O contract expires on Thursday, June26, 2014.

‘India has highest % of HNWIs wanting to give back to society’
India has the highest share of super-rich people globally who want to make a positive impact on society by giving back to their local communities in areas like health, education and children’s causes, a report says. According to the World Wealth Report 2014, released by Capgemini and RBC Wealth Management, more than 90 per cent of India’s High Net-Worth Individuals (HNWIs) seek to achieve more than just monetary returns while managing their wealth. In India, 90.5 per cent of HNWIs viewed driving social impact as either extremely or very important, followed by China (89.4 per cent) and Indonesia (89.2 per cent) in the second and third place respectively.

PNB drops plan to enter Canadian market with clearances taking time
State-run Punjab National Bank (PNB) has dropped plans of entering the Canadian market as regulatory clearances were taking a long time. “We have been pursuing this for 4-5 years but it did not reach a logical conclusion. So, we decided not to go forward with it,” PNB chairman and MD KR Kamath said. The bank had plans to open a subsidiary in Canada with a capital of Rs 100 crore to serve Indian diaspora as well as to finance bilateral trade and investments. PNB has overseas footprints in 10 countries with 4 overseas branches. It has wholly owned subsidiary in UK with 7 branches and a subsidiary each in Kazakhstan and Bhutan.

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