India reminds world about challenges posed by climate change
India has reminded the global community how the impact of climate change has increasingly become evident in the form of one disaster or another.
Foreign Portfolio Investment (FPI) in India has touched Rs 1.5-trillion mark in India in the last four months since March 2023, according to a report by ICICI Securities.
As per the report, this is the highest FPI received by any country in the world for the aforementioned period. The second-highest inflow seen in Taiwan was less than $6 billion.
Another report from Reuters has stated that since March, FPIs have invested in Indian shares worth Rs 1,393.50 billion. This has contributed to a 13 per cent increase in the Nifty 50 index from March 1 to July 15.
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“From a quarterly perspective, the flows in India were almost three-time higher than the nearest competitor. The same is reflected in terms of performance where Nifty was able to scale fresh life highs while rest of the markets are still languishing behind,” said Sachin Jain, analyst at ICICI Securities.
For the first half of July, the FPIs bought Indian shares worth Rs 306.60 billion on a net basis, data from the National Securities Depository Ltd (NSDL) said.
Nifty 50 index declined
The ICICI Securities report has said from December 2022 till March 2023, the Nifty 50 index had declined around 10 from its recent peak. Since then, the market has recovered all of its losses to make fresh all-time highs on the back of strong foreign inflows.
Midcap and small cap stocks outperformed in the recent recovery as the Small Cap index is up 30 per cent from the lows in March compared to the Nifty 50 index, which is up 17 per cent during the same period.
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