Nifty Posts Worst Losing Streak In Six Years
The Nifty 50 fell for the third straight month in August, posting its longest losing streak in the last six calendar years, as slowing domestic demand, weak corporate earnings and geopolitical tensions dampened the sentiment.
The benchmark fell 1 percent in August even after the government announced measures to boost the economy and rolled back a tax surcharge on foreign investors, which pulled out money from equities for the second month in a row.
Oil-to-retail Reliance Industries Ltd. conglomerate contributed the most by points, while State Bank of India was the biggest laggard.
Nifty Auto Index snapped its three-month losing streak as Finance Minister Nirmala Sitharaman announced several incentives to revive the sector facing its worst slowdown in a decade. Sharp gains for index heavyweights like Maruti Suzuki India Ltd. (up 11.5 percent), Bajaj Auto Ltd. (up 9.1 percent) and Hero MotoCorp Ltd. (up 7.9 percent) aided the recovery.
Information and technology gauge also snapped three months of decline, rising as the Indian rupee weakened. Rupee was the worst-performing Asian currency in August as it depreciated nearly 4 percent to 71.5 against the dollar. A depreciating currency helps software services providers that earn revenue in dollars.
Tata Consultancy Services Ltd., Infosys Ltd. and HCL Technologies Ltd., which have a combined weight of 66 percent on the index, rose 1.67 percent, 2.02 percent and 6.1 percent, respectively, in August.
The Nifty Metals Index tumbled more than 10 percent for a second straight month as the global demand outlook weakened because of the U.S.-China trade war.
Foreign Investors Continue To Sell
Foreign institutional investors pulled out the most from stocks since October and remained net sellers for the second month in a row in August. They net sold equities worth Rs 16,000 crore in the secondary market. Overseas investors, according to data on the NSE website, are also net short at the start of the September futures.
Corrects an earlier version which did not mention that the period is based on calendar years.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
