Amid hopes of a stable and reform-oriented government after the general elections, foreign investors pumped in Rs 9,600 crore in Indian stocks in April, the eighth consecutive month of inflows. Foreign institutional investors (FIIs) bought shares worth Rs 74,985 crore and sold stocks to the tune of Rs 65,383 crore, resulting in a net inflow of Rs 9,602 crore ($1.6 billion), according to data from the Securities and Exchange Board of India.This was the eighth consecutive month of net inflows by foreign investors after they pulled out Rs 5,923 crore from the stock market in August. FIIs withdrew Rs 9,185 crore ($1.51 billion) from the debt market last month. According to market analysts, FIIs are bullish on India and expect a stable government to be formed after the Lok Sabha elections.
Corporate earnings, FIIs to remain in focus this week: Experts
With no major data due this week, stock market investors are expected to focus on the ongoing quarterly earnings and foreign fund inflows for further cues, analysts said. Major earning announcements this week are of companies such as HDFC, Lupin, Glenmark Pharmaceuticals, Union Bank of India, GlaxoSmithkline Consumer Healthcare and Ranbaxy Laboratories. “Currently, participants are keeping a cautious approach due to the prevailing earnings season and the ongoing general elections. We expect this mood to continue in the coming week as well. As of now, broader bias is still on the positive side,” said Jayant Manglik, president retail distribution, Religare Securities Limited.
Non-life insurance premium rises by 10% in March
Total premium income of non-life insurance companies, including four PSU insurers, increased by 10.6 per cent to Rs 7,904.83 crore in March. The gross premium collection of four PSU insurers — National Insurance, New India Assurance, Oriental Insurance and United India Insurance — rose by 7.3 per cent year-on-year to Rs 4,422.32 crore in March. The four PSUs accounted for about 56 per cent of the total premium collected by 28 general insurance companies in March.
Indiabulls Housing Finance to raise R4,500 cr via bonds in FY15
Mortgage lender Indiabulls Housing Finance (IBHF) is aiming to raise Rs 4,500 crore through bond issues in 2014-15, a top company official has said. “We will raise Rs 4,500 crore in this fiscal through bond issues and on a net basis, excluding repayment of earlier bond issues, the same will be Rs 3,500 crore,” the company’s managing director and chief executive Gagan Banga sad. In 2013-14, it raised Rs 10,525 crore through the bond issuance route, which contributed to 26 per cent of the incremental borrowing done by the company.
For all the latest India News, download Indian Express App nowFirst Published on: May 5, 2014 2:07 am