Mirzapur

"The sentiments in the market have turned bullish due to the sustained buying by FPIs. FPIs turned net buyers in July and they have turned aggressive buyers in August. India is a preferred destination since India has the best growth prospects among large economies of the world. FPIs have turned buyers in autos, capital goods, FMCG and telecom. They continued to sell in IT," said Dr. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

At the interbank foreign exchange market, the rupee ended at 79.66 against the US dollar, as against 79.64 at the close of the previous trading session. The 10-year benchmark 6.54 per cent-2032 bond yield ended at 7.2894 per cent, marginally higher than 7.2673 per cent close on the previous trading session.

The fund aims to build an active, well-diversified portfolio, representing a cross-section of companies across major industries, economic sectors, and market cap segments. "Given this was our maiden retail mutual fund offering, all we expected was a willingness from industry participants to experience us with a wide-spread participation and a critical mass of investor base on which to deliver performance and build track record.

"There is a complete reversal of FPI activity in the Indian stock market. FPI who were relentless sellers in the Indian market from October 2021 to June 2022 turned net buyers in July and the buying continues in August, so far. The change in FPI strategy has imparted strength to the recent market rally," said Dr V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

According to Grant Thornton Bharat's latest Britain Meets India (BMI) report 2022, the UK remained the sixth-largest investor in India, with a cumulative investment of about $31.92 billion in 2000-22. This constituted around 5.4 per cent of the total foreign direct investment (FDI) into India. Despite low-key merger and acquisition (M&A) activity, the India-UK corridor witnessed 13 deals including India's Wipro Ltd acquiring Capco, Reliance Group acquiring Faradion Ltd and Bharti Enterprises acquiring Oneweb Ltd, the report noted.

The NTE Report identifies a range of important challenges and priorities to guide the Biden administration's trade policy and also raises serious concerns over the proposed and promulgated restrictive data policies in India and cites them as ‘Digital Trade Barriers'. Given the importance of India-US digital trade, its a serious set back to the attempts by Commerce Ministry to get a trade deal going with Washington.

The Sri Lankan central bank has lifted a ban on foreign exchange transactions and allowed banks to provide forward sale and purchase of foreign exchange facilities to importers. Forward sale and purchase of foreign exchange are contractual agreements between two parties to exchange a pair of currencies at a specific time in the future.

For ITC stocks, the brokerage has set a target price at Rs 295, as against the current price of Rs Rs 233.6. For GAIL and Mahindra & Mahindra Financial, the target is set at Rs 185 and Rs 200, respectively. On Friday, these two shares settled at Rs 146.65 and Rs 154.15, respectively, data showed.

The Survey has pointed out that over the last seven financial years (2014-21), India received FDI inflows worth $440.27 billion, which is nearly 58 per cent of the FDI received by the country in the 21 years prior to that ($763.83 billion). The Modi government assumed office in 2014. The Survey said that the measures taken by the government to put in place an enabling investor-friendly FDI policy has resulted in increased FDI inflows, setting new records.

An MoU was signed in a special event presided by the Lieutenant Governor Manoj Sinha. The investment will cover three hotels and one commercial-cum-residential complex in Jammu & Kashmir. The owner of Century Financial Bal Krishen is originally a native of the Doda district of Jammu and has been a forerunner in supporting his home region.