Kolkata Stocks：India suddenly changes!Foreign capital violently sells Indian stock exchange rates plummeted
Foreign capital violently sells Indian stocks.
On October 15, preliminary data released by the Indian State Exchange showed that on October 14th, foreign capital sold 37.316 billion Indian rupees (about RMB 3.15 billion) shares, which was sold on the 11th consecutive day.By the 14th, foreign investment has sold a total of 62.126 billion Indian rupees (about 52 billion yuan).
Analysts pointed out that the investment behavior of foreign investment in the Indian stock market is undergoing major changes. The selling trend may continue in the short term. The market will pay close attention to the data of the next few weeks and its impact on the stability and growth prospects of the Indian market.
Worried about the withdrawal of a large number of foreign funds from the Indian stock market, India’s rupee exchange rate continued to fall, and the Indian rupee’s exchange rate against the US dollar fell to a record low.The current traders are paying close attention to the 84th pass. Analysts predict that once the level breaks through the level, the Indian Bank of India may increase intervention.Kolkata Stocks
On October 15, preliminary data released by the Indian State Exchange showed that on October 14th, the net foreign capital sold 37.316 billion Indian rupees (about RMB 3.15 billion) shares, which was sold on the 11th consecutive day.Buy 22.781 billion Indian rupees.
A reporter from a brokerage company sorted out the previous data and found that from October 1st to 14th this year, foreign institutional investors sold a total of 621.26 billion Indian Rsites (about RMB 52 billion).On October 3, Global Fund sold US $ 1.85 billion in Indian stocks, a record the highest level.
Reflected at the market level, major Indian stock indexes such as Sensex30 and Nifty 50 have continued to decline recently, of which the cumulative decline in India’s Sensex was 2.76%.
It is worth mentioning that Indian domestic institutional investors continue to buy against the trend and purchase stocks worth 600.7 billion Indian rupees from October 1st to 14th.Analysts pointed out that many funds, especially Life Corporation (LIC), tend to use the method of buying against the trend to buy when selling other funds.Varanasi Stock
According to analysis agencies, the impact of foreign investment on the Indian stock market has been reduced as Indian domestic investors buy a lot.Jaipur Wealth Management
Geojit Financial Services chief investment strategist VK Vijayakumar said: "Large -scale foreign sales have not seriously affected the market because all foreign investors have been absorbed by domestic investors, and domestic investors are obtaining continuous capital inflows." HeIt is expected that the trend of foreign investment may continue in the short term.
Some analysts pointed out that the current foreign -funded selling trend is affected by the transformation of investment strategies, and the investment strategy has shifted to favors the Indian market rather than Indian stocks.
As the investment behavior of foreign investment in the Indian stock market is undergoing major changes, the market is paying close attention to the data in the next few weeks and its impact on the stability and growth prospects of the Indian market.The analysis stated that geopolitical development and future global interest rate trends will be the key to determining foreign investment in the Indian stock market.
During the past period, the Indian stock market has attracted a large amount of foreign funds.Once foreign investment changes in the investment trend of the Indian stock market, there will be a lot of potential selling.
Citi believes that the current valuation of the Indian stock market is high, and the profitability of Indian companies is not good. It has reached the stage of profit -making, and foreign funds are accelerating the evacuation of the Indian stock market.Agra Wealth Management
Worried about the withdrawal of a large number of foreign funds from the Indian stock market, India’s rupee exchange rate continued to fall, and the Indian rupee’s exchange rate against the US dollar fell to a record low.
On October 14, the exchange rate of the US dollar against the Indian rupee rose to 84.205, a record high.
Analysts pointed out that there are two main reasons for the depreciation of the Indian rupee: first, the large -scale retracement of the Indian stock market and the bond market of foreign capital; the other is that the market is expected to reduce interest rate cuts.The policy "adjustment to" neutral "has caused the market to increase the interest rate reduction of the country.
This year, India’s rupee has continued to depreciate and continued to refresh its historical low. However, because the Bank of India focuses on maintaining currency stability, the range of fluctuations is limited.The current traders are paying close attention to the 84th pass. Analysts predict that once the level breaks through the level, the Indian Bank of India may increase intervention.
Kunal Sodhani, deputy president of Shinhan Bank, said that although the Indian Bank had previously intervened at 83.98 and 83.99 points, the capital outflow was very strong, especially the stock market.Once the rupee fell below the 84 mark, observing the Indian Bank’s intervention method would become important.
Michael Wan, a senior currency analyst of Mufg, said that from the perspective of RBI, as long as the exchange rate changes are not too severe, the Indian central bank can maintain a certain foreign exchange competitiveness.
According to Indian Reserve Bank, as of October 4, Indian foreign exchange reserves decreased by US $ 3.709 billion to US $ 70.176 billion.
Amit Pabari, managing director of foreign exchange consulting company CR Forex, said that India’s reserve banks’ defenders to currency and measures that may alleviate stock capital may bring some relief to the Declanquerism of the rupee.
The external pressure of the depreciation of the Indian rupee exchange rate comes from the strong counterattack of the US dollar.
On October 14, local time, the US dollar continued the rise of last week. The DXY dollar index rose 0.3%, which wiped the decline of about two months;Essence
On the news, the current market is betting on the Fed will maintain a gradual interest rate cut, supporting the dollar to strengthen.One of the most influential officials of the Federal Reserve, one of the most influential officials, and the director Christopher Waller, said in the latest speech that the Federal Reserve ’s interest rate cuts need to be“ more cautious ”in the future.Waller hinted that the interest rate cut in the future will be less than September.This statement further increased the probability of the Federal Reserve ’s interest rate cut in November.
Mumbai Stock Exchange