The Core Report #456 FIIs are Back, As Markets Gear Up for Santa Rally
9 snips
Dec 11, 2024 Foreign institutional investors are making a comeback as the markets prepare for a festive rally. The new economic landscape raises questions about bitcoins and cryptocurrency's future. Additionally, the rupee is feeling pressure from China's currency changes. Meanwhile, India's growth forecasts have been revised down to 6.5%, spotlighting the effects of reduced private investment. Discussions also include sector performance and a notable acquisition by the Bhartia family, hinting at evolving business strategies amidst market fluctuations.
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Santa Rally Potential
- FIIs are returning to Indian markets after profit-booking, potentially signaling a Santa rally.
- Nifty small-cap and micro-cap indices hit new highs, indicating increased risk appetite.
Indirect Case for Crypto
- India's Chief Economic Advisor subtly supported crypto and online gaming after the RBI governor's exit.
- He emphasized regulators balancing innovation with social costs and benefits.
Rupee's Slide
- The Indian rupee hit a record low due to the falling Chinese Yuan and increased dollar bids.
- The new RBI chief's appointment fueled rate cut expectations, further impacting the rupee.