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Foreign Institutional Investors (FIIs) have aggressively invested Rs 4,500 crore in Indian auto stocks following the GST rationalization announcement, anticipating a consumption-led rally. The GST Council's decision to slash tax rates across auto segments, coupled with seasonal tailwinds, has fueled this surge. While autos, metals, capital goods, and financials saw inflows, consumer services, IT, and real estate experienced outflows.
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News and Media
Wall Street's main indexes closed higher on Friday, securing a weekly gain fueled by FedEx's strong earnings and positive sentiment in the technology sector. Optimism surrounding AI-linked stocks and the Fed's anticipated rate cuts further boosted the market. However, concerns arose from a blocked funding bill and Lennar's disappointing forecast, adding a layer of caution to the overall positive trend.
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News and Media
India's foreign exchange reserves have surpassed $700 billion, reaching $702.966 billion after a $4.698 billion increase in the week ending September 12, according to RBI data. These reserves provide import cover for approximately 11.5 months.
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News and Media
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