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The Hindu
2 days ago
- Climate
- The Hindu
Remnant of tropical cyclone Wipha to trigger another round of intense rain spells in Kerala
The scale and intensity of the southwest monsoon will be intensified further starting from July 25, influenced by the remnants of tropical cyclone Wipha. Though Wipha, downgraded to a tropical storm, left a trail of destruction in parts of Southeast Asian countries by bringing in strong winds and heavy rain, it is likely to emerge over the North Bay of Bengal. Although weakened after the landfall, the system is likely to get intensified further after crossing over to the Bay of Bengal. According to a weather bulletin issued by the India Meteorological Department (IMD) on Tuesday, a fresh cyclonic circulation (remnant of Tropical Cyclone Wipha) is likely to emerge over the North Bay of Bengal during the next 24 hours. Under its influence, a low pressure area is likely to form over the same region in the subsequent 48 hours. Though the track and timeline of the system would be clearer after the formation of low pressure area, it is likely to intensify into a depression and may move into the coastline of the country, triggering widespread rainfall in eastern and central India. 'This will also help the strengthening of the flow of westerlies from the Arabian Sea into the mainland of the country, activating some intense spells of rain in the Western Ghat regions along the west coast of the country. We expect intense rainfall activity in Kerala for three days starting from July 25,' said V.K. Mini, a scientist with IMD, Thiruvananthapuram. North and central Kerala will get a major share of rain during the next surge. The next surge can also narrow down the deficiency margin of the southwest monsoon rainfall in Kerala, which is still 11 % short of the average of rain clocked during the opening two months of June and July. The State will have to get a cumulative average rainfall of 1,302 mm of rain during June and July, while it has received 997.3 mm of rain so far against the average of 1124.2 mm (from June 1 to July 22).
Economic Times
4 days ago
- Business
- Economic Times
FPIs exit secondary market in July, but stay active in IPOs. What's fueling the shift?
Foreign portfolio investors (FPIs) have turned net sellers in India's secondary markets in July, offloading over Rs 10,000 crore in equities amid valuation concerns and underperformance. However, their primary market investments remain strong, indicating a shift in strategy. Despite near-term caution, FPIs continue to tap IPO and QIP opportunities, reflecting selective optimism toward Indian equities. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Foreign portfolio investors (FPIs) have turned net sellers in Indian equities this July, but their activity in the primary market remains strong — highlighting a strategic shift amid concerns over valuations and the relative underperformance of Indian to data from NSDL, FPIs sold equities worth Rs 10,775 crore through the secondary market between July 1 and July 18, 2025. However, during the same period, they invested Rs 5,251 crore in the primary market, mainly via initial public offerings ( IPOs ) and qualified institutional placements (QIPs).Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services , said this trend reflects a valuation-sensitive approach by foreign investors.'The important takeaway from this dualistic behaviour of FPIs is that whenever valuations get stretched in the secondary market, they sell — but consistently buy in the primary market (QIP), where valuations are fair,' Vijayakumar said.'So long as valuations remain elevated, this trend will continue,' he added. 'India's underperformance relative to other emerging markets and the MSCI EM Index may also have contributed to FPI selling through the exchanges.'Vijayakumar pointed out that for the calendar year 2025 up to July 19, FPIs have sold equities worth Rs 1.10 lakh crore in the secondary market, while investing Rs 27,239 crore in the primary market. Despite the outflows via exchanges, their continued interest in new issuances suggests that FPIs are not exiting Indian equities entirely, but are reallocating their exposure based on value and return after rallying over 15% between March and June, Indian equity markets have taken a breather in July. So far this month, the Sensex and Nifty have declined more than 2%, weighed down by weaker-than-expected earnings from key financial and IT companies, as well as global trade Friday, July 18, the Nifty50 slipped 0.57% to close at 24,968, while the BSE Sensex fell 0.61% to settle at 81,757. The indices also logged their third consecutive weekly loss, with the Nifty50 down 0.7% and the Sensex losing 0.9% for the banks led the sectoral declines, falling nearly 2% for the week, followed by losses in financials and IT, which were down 1.1% and 1.5%, respectively. Axis Bank shares tumbled 5.2% on Friday and 6.3% for the week after posting a surprise drop in quarterly profit. HCLTech, India's third-largest IT services firm, also fell 5.5% for the week after it cut its full-year operating margin focus now shifts to the upcoming earnings season and potential developments in India-US trade talks ahead of the August 1 deadline. Earlier this week, US President Donald Trump said a deal with India is 'close,' which could lend some support to market now, FPI data underscores a cautious yet opportunistic approach. While the secondary market may remain under pressure due to elevated valuations and global headwinds, sustained activity in IPOs and primary issuances could continue—particularly if pricing remains attractive.
Economic Times
6 days ago
- Business
- Economic Times
FIIs pull out over $1 billion from Dalal Street in 5 days of non-stop selling
FIIs have pulled out over Rs 10,000 crore from Indian equities in five days, reversing their three-month buying streak. DIIs remain net buyers. July shows renewed bearishness, with Citi downgrading India to 'neutral' due to high valuations and weaker earnings forecasts. Global concerns continue to pressure Indian markets. Tired of too many ads? Remove Ads In contrast, DIIs stay bullish Tired of too many ads? Remove Ads Citi downgrades India to 'Neutral' Foreign Institutional Investors ( FIIs ) have resumed their aggressive selling spree in Indian equity markets, registering net outflows for five consecutive trading sessions. Over this brief yet impactful period, FIIs have withdrawn a staggering Rs 10,169 crore, surpassing the USD 1 billion mark in cumulative selling. This data includes the heavy outflow recorded on July most significant pullback came on July 17, when FIIs sold Rs 3,671 crore, marking the second-largest single-day outflow in the past five sessions. The biggest single-day exit was a whopping Rs 4,495 crore, underlining the intensity and pace of FII while FIIs were offloading equities, Domestic Institutional Investors (DIIs) stepped in as consistent buyers. Over the same five-day period, DIIs pumped in close to Rs 11,000 crore, providing some support to the market and helping absorb the selling focus back to FIIs — on a monthly basis, July has reversed the trend. FIIs, who were net buyers for three straight months — from April to June 2025 — have now turned net sellers. Their most aggressive buying was seen in June 2025, when they invested around Rs 14,600 crore into Indian equities . This makes July's sharp exit even more broader trend for calendar year 2025 also paints a bearish picture. So far, FIIs have pulled out nearly Rs 90,000 crore from Indian equities, pointing to persistent caution and growing discomfort with current market V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "In July so far, India has been underperforming most markets, with a dip of 1.6% in the Nifty. A significant contributor to the decline is the selling by FIIs. There is a clear pattern in FII activity this year: they were sellers in the first three months, turned buyers for the next three, and in the seventh month, the trends so far indicate further selling — unless some positive news reverses the downtrend in the market. Along with selling in the cash market, FIIs have been increasing short positions in the derivatives market too, which reflects a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity."Global brokerage firm Citi has downgraded India to 'neutral' from 'overweight', citing elevated valuations and a moderation in earnings growth forecasts. The brokerage maintained its 'overweight' stance on China, Korea, and the Philippines, reflecting better earnings revision trends and more attractive valuations, ET reports."India remains the most expensive market (23 times) compared to both its peers and its own average valuation," said Citi. The brokerage added that while India's macro story looks better than its peers and a US trade deal is possible, the market's earnings growth outlook "no longer looks exceptional" against the backdrop of high valuations.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
6 days ago
- Business
- Time of India
FIIs pull out over $1 billion from Dalal Street in 5 days of non-stop selling
Foreign Institutional Investors (FIIs) have resumed their aggressive selling spree in Indian equity markets, registering net outflows for five consecutive trading sessions. Over this brief yet impactful period, FIIs have withdrawn a staggering Rs 10,169 crore, surpassing the USD 1 billion mark in cumulative selling. This data includes the heavy outflow recorded on July 17. The most significant pullback came on July 17, when FIIs sold Rs 3,671 crore, marking the second-largest single-day outflow in the past five sessions. The biggest single-day exit was a whopping Rs 4,495 crore, underlining the intensity and pace of FII withdrawals. Explore courses from Top Institutes in Select a Course Category Artificial Intelligence Operations Management Leadership MBA MCA Management Data Science CXO healthcare PGDM Product Management others Cybersecurity Digital Marketing Project Management Public Policy Technology Healthcare Data Analytics Degree Data Science Design Thinking Others Finance Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details In contrast, DIIs stay bullish Interestingly, while FIIs were offloading equities, Domestic Institutional Investors (DIIs) stepped in as consistent buyers. Over the same five-day period, DIIs pumped in close to Rs 11,000 crore, providing some support to the market and helping absorb the selling pressure. Shifting focus back to FIIs — on a monthly basis, July has reversed the trend. FIIs, who were net buyers for three straight months — from April to June 2025 — have now turned net sellers. Their most aggressive buying was seen in June 2025, when they invested around Rs 14,600 crore into Indian equities . This makes July's sharp exit even more striking. The broader trend for calendar year 2025 also paints a bearish picture. So far, FIIs have pulled out nearly Rs 90,000 crore from Indian equities, pointing to persistent caution and growing discomfort with current market conditions. Live Events Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "In July so far, India has been underperforming most markets, with a dip of 1.6% in the Nifty. A significant contributor to the decline is the selling by FIIs. There is a clear pattern in FII activity this year: they were sellers in the first three months, turned buyers for the next three, and in the seventh month, the trends so far indicate further selling — unless some positive news reverses the downtrend in the market. Along with selling in the cash market, FIIs have been increasing short positions in the derivatives market too, which reflects a bearish outlook. Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity." Citi downgrades India to 'Neutral' Global brokerage firm Citi has downgraded India to 'neutral' from 'overweight', citing elevated valuations and a moderation in earnings growth forecasts. The brokerage maintained its 'overweight' stance on China, Korea, and the Philippines, reflecting better earnings revision trends and more attractive valuations, ET reports. "India remains the most expensive market (23 times) compared to both its peers and its own average valuation," said Citi. The brokerage added that while India's macro story looks better than its peers and a US trade deal is possible, the market's earnings growth outlook "no longer looks exceptional" against the backdrop of high valuations.
The Hindu
7 days ago
- Business
- The Hindu
Markets trade lower after firm start, fresh foreign fund outflows dent sentiment
Equity benchmark indices Sensex and Nifty started the day on a firm note on Thursday (July 17, 2025) but later faced selling pressure, with investors remaining in a wait-and-watch mode, as hopes are pinned on a favourable outcome from the U.S.-India trade talks. Fresh foreign fund outflows also dented investors' sentiment as they preferred staying on the sidelines. The 30-share BSE Sensex climbed 119.05 points to 82,753.53 in opening trade. The 50-share NSE Nifty went up by 18.7 points to 25,230.75. However, later the BSE benchmark quoted 71.51 points lower at 82,554.47, and the Nifty traded 30.30 points down at 25,182.55. From the Sensex firms, Sun Pharma, Tata Motors, Kotak Mahindra Bank, Trent, NTPC and Bharat Electronics were among the gainers. However, Tech Mahindra declined over 1% after its June quarter earnings failed to cheer investors. IT services firm Tech Mahindra reported a nearly 34% year-on-year increase in consolidated net profit to ₹1,140.6 crore for the quarter ending June 30, 2025, on the back of growth in communications and financial services verticals. ICICI Bank, Eternal, State Bank of India and Asian Paints were also among the laggards. 'There are no triggers for the market to break out of the consolidation range in which it has been stuck for two months now. Even an India-U.S. interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range. One positive and surprise factor that can trigger a rally is a tariff rate much below 20%, say 15%, which the market has not discounted. So, watch out for developments on the trade and tariff front,' V.K. Vijayakumar, chief investment strategist, Geojit Investments Limited, said. Results of the IT sector continue to disappoint and, therefore, this can remain a drag on the overall market, he added. In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng traded in the positive territory while South Korea's Kospi quoted lower. The U.S. markets ended higher on Wednesday (July 16). Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,858.15 crore on Wednesday (July 16), according to exchange data. 'Markets appear to be in a wait-and-watch mode, eyeing a major trigger to scale Nifty's all-time high of 26,277.35. Hopes are pinned on a favourable outcome from the U.S.-India tariff talks,' Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd., said. Global oil benchmark Brent crude climbed 0.58% to $68.92 a barrel. On Wednesday (July 16), the Sensex edged up 63.57 points or 0.08% to settle at 82,634.48. The Nifty ended 16.25 points or 0.06% higher at 25,212.05.
