FPI selling in equities highest since August 2015
- New Delhi, Beijing agree maintaining peace vital for growth of bilateral ties
- Govt forms panel to review insolvency and bankruptcy code
- A property market slump may have ripple effects on innovation, productivity of staff
- I-T issues draft norms allowing foreign banks to convert local branches into wholly owned units
- Govt to decide on capital allocation based on bank business plans: SBI chief Rajnish Kumar
Selling by foreign portfolio investors (FPIs) in November is set to be the highest in the past 15 months.
So far this month, FPIs have been net sellers of equities worth Rs14,896 crore, higher than the net sales of Rs11,471 crore when the markets corrected in January this year.
They have been net sellers in each of the trading sessions since the demonetisation announcement on 8 November.
Gold prices tumble to a nine-and-a-half month low
Gold prices tumbled to nine-and-a-half-month lows on Friday, and ended with a third consecutive weekly decline as investors sold on factors including expectations of a US interest rate rise.
Spot gold closed at $1,183.9 an ounce, its lowest since 8 February, as funds took profits on short positions.
The precious metal has fallen about 7% so far in November, leaving it on track for its largest monthly fall since June 2013.
Domestic air passenger growth exceeds 20% again
India’s domestic air passenger traffic grew 23.3% to 8.6 million in October.
This is the 12th straight month where growth has exceeded 20%, analysts at Motilal Oswal Securities Ltd pointed out.
IndiGo led with a 46% growth, followed by SpiceJet at 24.4%.
Likewise, the industry’s load factor, or capacity utilization, has exceeded 80% in the past 13 months.