Morning Alert.. *FPIs pull out of debt, selling pressure may c | Equity99

Morning Alert..
*FPIs pull out of debt, selling pressure may continue until bond inclusion*
The debt market saw a reversal of fortunes in April after a year of consistent robust monthly inflows from foreign portfolio investors (FPI). Market participants anticipate that the selling pressure will persist, with the expectation that the bond market will regain its stability following the JPMorgan bond index inclusion in June. “There might be selling for some time by the active investors who had come in,” said Vikas Goel, managing director and chief executive officer, PNB Gilts. “It is temporary…there will be some outflow but it will be marginal. There is no trigger now to be buying, and that is why I think there is some amount of selling,” he added. In April so far, foreign investors have pulled out a net of Rs 3,592 crore from the debt market due to the surge in US Treasury yields and escalating geopolitical tensions in West Asia. On Tuesday, FPIs sold Rs 3,363 crore worth of bonds in a single day. In the current week, they have sold around Rs 2,669 crore worth of government bonds. FPIs’ investment in government bonds fell by around 5.5 per cent in the past month. They sold Rs 6,530 crore worth of five-year bonds, which is the most liquid bond among fully accessible route (FAR) securities.

*Global market action*
Dow Jones – Down by 1.19% or 448.69 points
FTSE – Up by 0.37% or 29.06 points
CAC – Up by 0.52% or 41.75 points
DAX – Up by 0.38% or 67.38 points
Gift Nifty – Down by 1.53% or 337.50 points

*FII/DII activities*
FII – Sold 4260.33 Cr worth of shares
DII – Bought 2285.52 Cr worth of shares.

*Stocks with high delivery Percentage*
Aptus Value Housing Finance India Ltd – 94%
Pfizer Ltd – 87.7%
Vedant Fashion Ltd – 86.7%
Endurance Technologies Ltd – 86.5%
Kajaria Ceramics Ltd – 86.4%

*Primary market activities*
IPO opening today
Faalcon Concepts Ltd (BSE SME) – Issue size 62Cr

*Commodities updates*
Gold – Rs 75515/10gm, Silver – Rs 83309/kg, Brcrude – Rs 6930/barrel, Copper – Rs 838.50/kg.

*Corporate News*
HDFC Life Q4 results: Net profit up 15% at Rs 411 cr on back book gain.

Bharti Airtel signs deal to merge Sri Lankan unit with Dialog Axiata.

Tata Motors plans Jaguar Land Rover EV imports to India under new policy.