📌Foreign funds have sold over Rs 1 lakh crore in October. 📌Domestic funds have picked up almost equal value of shares. 📌FII selling in derivative markets behind the fall. 📌Steady SIP flows give mutual funds dry powder to capitalise on opportunities during a market fall. 📌Indian markets have managed to withstand significant selling pressure from foreign investors in April.
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RITES shares surged over 3% after signing a Memorandum of Understanding with SAIL-Bokaro Steel Plant for project management consultancy services and securing a Rs 59.13 crore contract from UP State Bridge Corporation Limited for infrastructure project supervision. RITES shares are up 21% this year and 31% in the past 12 months.
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The dollar hovered near a 3-month high on Wednesday in a critical week for economic data that may indicate the direction of U.S. monetary policy. However, the Australian dollar edged closer to a 3-month low. It’s because the inflation trends suggested that an interest rate cut by the Reserve Bank of Australia is unlikely this year. Mixed U.S. data overnight, indicating a softening job market.
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