Rajasthan Minister, who vowed to quit if BJP loses Dausa LS seat, tenders resignation
"Raghukul reeti sada chali aayi, praan jaaye par vachan na jaaye," Meena wrote in Hindi after confirming his resignation.
In the first week of June, foreign investors withdrew around Rs 14,800 crore from the domestic stocks due to Lok Sabha elections and attractive Chinese valuation.
The outflow came following a net outflow of Rs 25,586 crore in May on poll jitters and more than Rs 8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in US bond yields.
From a medium to long-term perspective, the direction of interest rates will remain a key driver for foreign investment flows into the Indian equity markets.
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As per the data, Foreign Portfolio Investors (FPIs) made a net withdrawal of Rs 14,794 crore till June 7.
The move was influenced by general election results in India.
The data said that the FPIs invested over Rs 4,000 crore in the debt market. Prior to this, foreign investors put in Rs 13,602 crore in March, Rs 22,419 crore in February and Rs 19,836 crore in January.
Market experts believe that long-term outlook for FPI flows into Indian debt is positive due to India’s inclusion in global bond indices.
They believe that the inflow was driven by the upcoming inclusion of Indian government bonds in the JP Morgan Index.
However, near-term flows are being impacted by global macroeconomic uncertainty and volatility.
Experts further predicted that in the medium term, US interest rates will exert more influence on FPI flows.
Robust GDP growth, manageable inflation and political stability can create a positive outlook for the Indian economy.
India’s GDP growth rate in the quarter ending March 31, 2024 grew by 7.8 per cent. GDP growth provisionally stands at 8.2per cent for FY24, as compared to the growth rate of 7per cent in FY23.
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