The week in charts: FII selling, PAN 2.0, IPL auction
Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. Foreign investors have sold over ₹2 trillion worth of shares in this fiscal year so far.
Meanwhile, the Cabinet Committee on Economic Affairs (CCEA) has approved a fully paperless and online PAN 2.0, among other measures. Foreign institutional investors (FIIs) have net sold over ₹2 trillion in Indian shares this fiscal year, setting the stage for record outflows from the secondary market. In October, FIIs sold ₹1.17 trillion in NSE’s cash segment, driven by rising US bond yields and disappointing earnings amid lofty valuations.
If this trend persists, total outflows could exceed ₹2.8 trillion by fiscal year-end, Mint reported. Experts suggest that the strengthening US dollar and higher yields are driving outflows from emerging markets, including India, which makes up 18.84% of the MSCI Emerging Market Index, further impacting investor sentiment. Banks added 0.79 million credit cards in October, a sharp drop from 1.69 million last October, Mint reported.
HDFC Bank led with 0.24 million new card issues, followed by State Bank of India (SBI) and ICICI Bank. However, some banks like Kotak Mahindra, RBL, and Axis saw declines due to cancellations and expiries. The slowdown is due to banks recalibrating risks and tightening credit card issuances, focusing on more stringent applicant screenings.
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