Mon, Nov 25, 2024 12:27 PM
Vista Pharma Standalone September 2024 Net Sales at Rs 2.49 crore
A Flip by Shubhangi Gupta
FPIs have been on a selling spree over the last one and a half months, withdrawing funds from Indian equities at an unprecedented pace and reversing their earlier purchasing streak. This sudden shift in FPI behaviour has weighed heavily on market sentiment marking the largest consecutive selling streak on record, amid concerns over bribery allegations against Adani Group.
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Emkay Global has slashed its Nifty target by 4% to 25,000, citing a weak earnings season marked by sluggish consumption and deteriorating cash flows. However, the brokerage emphasised that while earnings trends have softened, they do not signal a cause for alarm. Despite the 10% correction in benchmark Nifty index since September 27, Emkay expects markets to “mark time” in the immediate future.
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India's stock exchanges, NSE and BSE, may face profit declines if the SEBI implements proposed clearing house ownership changes. The regulator suggests diversifying ownership for market stability, impacting bourse earnings. Two options are proposed: a 100% sell-down or a phased reduction to 15% ownership. This adds to revenue pressures from stricter derivatives trading rules.
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